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 (11758)	7/16/2001 11:56:25 AM
From: Arik T.G.	Read Replies (4) of 52237

Donald, A few comments and questions: >>Now if the market cannot move up nicely this week producing HIGHER HIGHs, I would take that as a short-term negative for the market. This should go the other way, too: If the market fails to make a lower low this week, it will look to break higher. EW wise if the NDX tops the 1865 local high, it is likely to top the 2070 May high as well. >>I was looking at the US DOLLAR chart. Im never sure, but it does look like it may be topping out. To me the Dollar Index looks already over the top. I opened a small long Euro short USD position today, and I already hold one long Aug Gold which is also against the Dollar (looking to add around $262-4). >>ASIA, overall, is now quite weak economicly. Any info on India? I think the sub continent has the potential to be a big G7 style economy in the more distant future. >>...it could be a 3-DAY pattern where DAY-2(FRI) is FLAT, and DAY-3(MON) is up strong. Does the 3rd day has to be strong from morning? Cause today doesn't look that strong so far. I know this market can turn on a dime, but hey... My opinion is we're going lower, with the NYSE old economy giants leading the way. In the Naz MSFT chart looks real bad- the infamous Megaphone formation. Same formation on the SOX is more advanced, and you can see the future movements in MSFT by looking at recent SOX action. CSCO OTOH looks like it suffered enough for now. ATG

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