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: James C. Mc Gowan who wrote (7498)	5/16/2001 6:26:55 AM
From: donald sew	Read Replies (2) of 52237

MAY 16 INDEX UPDATE -------------------------- Short-term technical readings: DOW - midrange SPX - lower midrange OEX - lower midrange, borderline oversold NAZ - oversold region NDX - oversold region VIX - lower midrange 5-DAY TRIN - 6.05 Per my short-term technicals the overall market is in the lower midrange and no major change from Monday's readings. If the NAZ/NDX continues down I would get CLASS BUY signals in 1-2 days, and for the SPX/OEX in 2-3 days. The 5-DAY TRIN has been over 6.0 for the last 3 days. Readings over 6.00 imply that a short-term bottom is nearing. If I recall correctly, the most number of days over 6.0 is around 4-5 before a short-term reversal starts. This is expiration week, and right now the QQQ is right at the MAX-PAIN point; therefore I do not expect a huge move in either direction for the rest of this week. I normally use a buffer of +/-5 QQQ points, which would equate to about 200 NDX points. The week after expiration(next week) is commonly a weaker period, so such is not lining up with the forthcoming CLASS buy signals if the market continues down this week.

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