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Strategies & Market Trends : The Market Beacons

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: robert b furman who wrote (10)	2/11/2001 8:43:34 PM
From: Magnatizer	Read Replies (2) of 1298

NVLS Mags Bob magnatizer.terrashare.com NVLS mags show some supports which are in the immediate area. I still like the prior plan of stop above the high of the prior two days. The thick uptrend in the low 20s (chart on right) should be very solid if/when tested. It's anchors are 11.29.93 to 4.28.94 if you want to see the prior action around it. Low 30 area should be quite solid support also. Going back to early December action note the gap of the mag downtrend. NVLS then returned for a quick sniff/retest. This area is now very important to the long term health of NVLS. Mag horizontals are tough. There are too many of them in the immediate area and all are weak ratings. I focus on the trendlines (chart on right) when the horizontals (chart on left) are in this situation. ht Mag

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