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: donald sew who wrote (10271)	6/26/2001 4:58:33 PM
From: donald sew	Read Replies (3) of 52237

JUNE 26 INDEX UPDATES ------------------------------- Short-term technical readings: DOW - lower midrange/borderline oversold SPX - midrange OEX - midrange NAZ - upper midrange/borderline overbought NDX - upper midrange/borderline overbought VIX - midrange 5 DAY TRIN - 6.07 Its right before the FOMC meeting and per my short-term technicals the overall market is right in the midrange. Intraday, the DOW gave a borderline CLASS 1 BUY signal and the DOW significantly rallied intraday. Even while the DOW was selling off strongly intraday the NAZ/NDX showed strength/lack of weakness, since it was not selling off as hard as the DOW. Is this a hint of SECTOR ROTATION from the DOW to the NAZ, or just a delay? Heck if I know. No change in my mutual fund position. It is still hedged with just a slight bias to the upside, and 75% cash. Not much to say now, just waiting for the FOMC meeting. Subjectively, still hearing alot of bullishness from the analysts on CNBC.

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