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: Michael Watkins who wrote (1021)	2/25/2001 3:07:17 PM
From: Paul Shread	Read Replies (2) of 52237

All good observations, Michael. A couple of thoughts on Friday: First, breadth was negative on the COMPX (21-17) and volume was light, which leads me to believe that buyers aren't beginning this rally with a whole lot of conviction or courage. Haven't seen very many lasting rallies that started out this way. The second is more of a question: given that the SPX/OEX/COMPX/NDX only made new intraday lows by 2-5% or so, and closed back near the intraday lows from December/January, is this close enough to qualify as a retest? With the caveat that this rally could still fail before it ever takes out any meaningful levels to the upside, of course.

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