Stock Attack II - A Complete Analysis Message Board

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

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To: Chris who wrote (108)	2/13/2001 8:36:26 AM
From: Terry Whitman	Read Replies (1) of 52237

I think you have the NAZ nailed there. I've seen alot of futility with people trying to draw trendlines over the last several months. Suffice it to say- you cannot draw valid trendlines for a market that is not trending. The Dow and S&P are not trending, and have been in a trading range for the better part of 2 years now. The Naz has been in an obvious Down trend that your 1st chart shows- but it too may have stopped trending- and the recent trading range it has been in; bounded by the Jan low, and 3000, may be a longer term situation than anyone is predicting. I think it not only possible, but probable that the NAZ will join the Dow and SPX in a trading range for some time to come. The way to play a trading range is to buy and sell HORIZONTAL levels of support and resistance, not trendlines. Good luck, TW

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