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

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To: Jan Crawley who wrote (41543)	1/25/2001 7:10:18 PM
From: donald sew	Read Replies (2) of 42787

JAN 25 INDEX UPDATE ----------------------------- Short-term technical readings: DOW - just entered overbought region SPX - upper midrange OEX - upper midrange NAZ - midrange NDX - midrange VIX - 24.98, lower midrange(inverse to market) CBOE PUT:CALL RATIO - .63 Per my short-term technicals the overall market is in the upper midrange. It was quite obvious and a bit surprising how quickly EXTREME SECTOR ROTATION has done a complete reversal. Just a few days ago I was bullish on the NAZ/NDX since money was moving from the DOW into the NAZ, but today SECTOR ROTATION reversed where money was moving into the DOW and out of the NAZ. If such continues, I will become less bullish/more bearish on the NAZ/NDX. Heck, it may just be a 1-2 day thingy and maybe not. Just want to mention again that prior to FOMC meetings/important news it is common for my short-term technicals to get into the midrange. The NAZ/NDX just entered the midrange and if the SPX continues down tomorrow it will also enter the midrange. This should also limit the downside in the NAZ/NDX prior to the FOMC meeting. My downside target for the NDX, prior to the FOMC meeting is still to fill the gap at 2470. After the FOMC - depends on the news. A few days ago I mentioned that NAZ NEW HIGH/LOW LINE was plateauing, and continues to plateau. It did decline slightly today, but not enough to be significant. If the NAZ NEW HIGH/LOW LINE doesnt break out of this plateau to the upside in the near future, it may be a hint that some sort of a top may be developing. Not predicting if it will or will not breakout, just watching for some movement.

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