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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Chris who started this subject12/12/2000 9:17:44 AM
From: donald sew  Read Replies (3) of 42787
 
DEC 12 INDEX UPDATE
--------------------------
Short-term technical readings:
DOW - upper midrange
SPX - overbought
OEX - overbought
NAZ - CLASS 2 SELL
NDX - CLASS 2 SELL
VIX - 26.50, oversold(inverse to market)

Per my short-term technicals, the overall market is nearing a short-term top, but in light of the recent bullish developments mentioned in the previous updates, I am suspecting that the forth coming pullback should not be strong and just a FIB type retracement. So the forthcoming pullback should be bought for the short/mid-term(30 days).

Not that the market cant pullback right from here, but if the market was to continue up, I would get CLASS 1 SELL signals in 1-2 days. Although the futures are down right now, Im more inclined that this may just be a ZIG-ZAG rather the beginning of a multi-day decline. This is also expiration week which is commonly flat/up, and next week is statistically the weaker time period.

As positive as the market now appears, we should not ignore the statistically possible retest of the recent lows. The problem is when will that retest occur - soon or several months out? `

I have closed/took profits from most of my personal long positions(UOPIX) in the last 2 days and now am only slightly biased to the upside. the WEBSITE account was basicly flat(slight long bias) as of last FRIDAY. Will close my last USPIX position on the forthcoming pullback and go straight long.

Could not go into more detail, since I still wont be available for a few more days. Sorry, but unable to respond to post directed to me.

Thanks again for the well wishes.
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