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

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To: Paul Shread who wrote (36259)11/24/2000 10:36:53 AM
From: donald sew  Read Replies (3) of 42787
 
Paul,

I have not changed my position from several months ago which was that I will become bearish(longer-term) if the SPX drops below 1340, which first occurred in OCT.

However, for the mid-term Im getting more and more technical support for a mid-term(30-day) rally. Im not saying that this rally will go to the moon, but do feel that it should at least take the NDX to the 38% FIB level. Whether that occurs in a few days or a month - will be looking for clues.

Also I wont get overly bullish with strong 1-2 day rallies as we are seeing today, since I wont ignore the possibility of a retest of the previous lows first before the more significant up-leg starts.

Seeya
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