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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Paul Shread who wrote (31955)	10/4/2000 11:02:12 AM
From: donald sew	Read Replies (2) of 42787

Paul, My weekly readings are in the oversold region for the SPX/OEX/NAZ/NDX, but the DOW is in the lower midrange, so they are still not in the EXTREME oversold region implying that there is still more potential downside. I suspect that the overall market rallys for the rest of the week then selling to resume early next week, and could be as early as this FRI. Rememver, SELL on YOM KIPPUR. Assuming that today did for a short-term bottom for the NDX, here are the next few resistance lines: 1) 3500-3520 - horizontal support 2) 3580-3635 - horizontal support 3) 3616 - 38% FIBONACCI REBOUND LEVEL I will be re-initiating short positions as the NDX approaches 3600; have to so how my short-term technicals are reading at the time. On a statistical basis, the probability is quite high for a retest of the previous lows if the decline was greater than 7%.

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