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: Chris who started this subject	7/5/2001 5:54:52 PM
From: donald sew	Read Replies (4) of 52237

JULY 5 INDEX UPDATE -------------------------------- Short-term technical readings: DOW - midrange SPX - midrange OEX - midrange NAZ - midrange NDX - midrange VIX - lower midrange(inverse to market) Per my short-term technicals, the overall market is in the midrange. Previously I posted the various supports for the NDX, and as of todays close the NDX broke below 4 support areas, including the NECKLINE of the HEAD and SHOULDER. I would consider that as a significant negative , implying further downside and possibly a strong downside move. However that doesnt mean that the NDX just heads straight down. After hours, AMD and EMC gave bad news, so that should add to the negativity. Im starting to hear quite a bit of talk about the summer rally on CNBC. I consider that as basicly hype. Sure, there is such a thing as a summer rally, but I believe its after either a spring or early summer sell-off. I do not have statistics on the summer rally, but it is well known that the 6 month period of MAY-OCT is the weaker half. Unless Im using the MARs or JUPITER calender, summer falls within the MAY-OCT timeframe. ggggggggggg Of course the media, especially CNBC doesnt say that.

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