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Strategies & Market Trends : NetCurrents NTCS

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To: Teresa Lo who started this subject3/21/2001 9:22:52 AM
From: Teresa Lo   of 8925
 
<font color=blue>2001MAR21 Update: “Sell the rumour, sell the news!”


If anyone was looking for high volume capitulation, yesterday’s reaction to the FOMC statement was it!

In the big picture here, was have a test of bottom set up on both the S&P and NASDAQ futures. The only thing we want to know today is if this bottom can hold or if it slices through again. The first signal of a successful test would be for the S&P to trade back above 1163,50 on the June contract and NASDAQ futures to trade above 1661.00 on the June contract. After that, we will require the market to thrust up and prove to us that it has rejected the low price on test.

Charts:
ottographs.com
ottographs.com

That’s the mission for today, in a nutshell.

Teresa
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