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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Chris who started this subject3/30/2001 7:56:26 AM
From: donald sew  Read Replies (1) of 52237
 
MAR 30 INDEX UPDATE
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Short-term technical readings:
DOW - upper midrange
SPX - upper midrange
OEX - upper midrange
NAZ - lower midrange
NDX - lower midrange

Per my short term technicals the overall market is around the midrange. Not saying that a rally cannot start now, but in such a downtrending market the odds are that I should first get CLASS BUYs before a significant rally starts. Saying that, if a significant rally does start from this point, that would be a bullish hint. Im not predicting, since when my short-term technicals are in the midrange its a flip-of-a coin.

One negative issue is the possibility of a 3-DAY DOWN PATTERN, where today is DAY-3, which should be down similar to DAY 1(WED). If this 3-DAY PATTERN does not occur, that could also be interpreted as a bullish hint.

Im mentioning the possible bullish hints, since the futures are up significantly this morning. One statistical issue is that we are now in the END-of-MONTH rally period, so that could skew the above mentioned negative issues.

My short-term technicals are not now supporting the beginning of a significant prolonged rally to start right now, but that doesnt mean that it cant start now.
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