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

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To: Chris who started this subject	11/16/2000 6:04:39 PM
From: donald sew	Read Replies (3) of 42787

NOV 16 INDEX UPDATE ------------------------- Short-term technical readings: DOW - midrange SPX - midrange OEX - midrange NAZ - midrange NDX - midrange VIX - 28.28, oversold(inverse to market) PUT:CALL RATIO - .81 Per my short-term technicals, the overall market is still in the midrange, where the potential upside is about the same as the potential downside. If the overall market continues down, it would still take 2-4 days to get a CLASS 1 BUY signals, so there is potential downside room in my short-term technicals. An anomoly today was that the VIX actually dropped today with the selling in the overall market and strong selling in the NAZ. My short-term technicals has a long way to go to get back to BUY TERRITORY for the market, which is hinting that the pullback could be stronger than expected. Im really not sure what to make of the VIX dropping in light of the market selling off. It could be skewed by option expiration, or it could be saying that the market is too complacent for the short-term. Previously, I was starting to feel less bearish on the NAZ/NDX where I felt that this forthcoming pullback may be small. However, in light the ease of todays selling and that this selling starting in the MIDRANGE of my short-term technicals, I am now becoming more bearish and will not ignore the possibility of even LOWER LOWs in the NAZ/NDX. As previously mentioned I have a MID-TERM CYCLE LOW arriving on NOV 21(+/- a few days). If the overall market continues down, this MID-TERM CYCLE LOW is lining up nicely with my short-term technicals where I could get CLASS 1 BUY signals in 2-4 days.

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