Ahh Canada - 2 out of 3 ain't bad Message Board

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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad

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To: Cush who started this subject	3/17/2001 12:14:15 PM
From: Shack	Read Replies (3) of 5144

THE NYSE Composite: dshacket.homestead.com Just thought i'd update this chart, as you know I much prefer this to the DOW for a non-tech index. As you remember, I posted it 4 weeks ago after it fell from that bearish wedge. The last two weeks it rallied feebly before resuming its downtrend this week. As you can see it is approaching some decent horizontal support at 575 so I expect some sort of bounce there. CMF has gone decidedly negative, MACD is still in sell mode and Stochastics are heading down but are not oversold yet. Other stoch settings yield similar, if less choppy results. I am torn right now as I feel a decent rally is coming for tech since the Elliot count is nearing completion but the NYA chart is still in a fairly young downwave which, if it bounces, will be shallow. I am re-looking my Nasdaq chart to see if I am missing something I am mostly cash and am only holding a couple of non-tech puts just in case we crash on Monday. I know I am a bear and live on the dark side but I want to join you guys and go long....I really do. But the market action is still telling me to wait.

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