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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: StockOperator who wrote (39885)1/14/2001 11:49:57 PM
From: StockOperator  Read Replies (1) of 42787
 
Alright, Greenspan has worked his magic. Stocks have risen the past couple of weeks on the realization that the Fed is serious about doing it's job. Since that surpise rate cut, stocks have merely moved to the upper bands of their falling trend lines (stocks that have been trending downward). However, now it is once again crunch time for many of the majors. Here are a couple of stocks and indices that I believe should be watched based on their individual stock patterns for possible signs of where the overall market may eventually break. I believe their charts are a week or two ahead of where the rest of the market will eventually find itself. Keep an eye on YHOO, CNET, and ARBA. These stocks are resting at very critical support areas that will definitely be tested here. Also, the DOW this coming week represents the index to watch. A short term negative pattern has developed. A continuation of the move to lower levels may indicate the longer term prospects of this index. Based on the price action of GE, my views are not positive overall. This stock could have a tough week as prices push towards lower levels. The sand in the hour glass has just about run out for stocks like TLAB, NOK and PAYX. Their price patterns dictate that a break in one direction or another is close at hand.

Regards,

SO
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