Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 677.58

+0.3%

Nov 5 4:00 PM EST

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To: Clint E. who wrote (33806)	8/27/2001 4:15:59 PM
From: shasta23	Read Replies (1) of 67692

Still above the 21EMA on the 30min scale on the NAZ but the DOW broke through it. If it gaps down tomorrow it will leave all the people stranded who bought into the range that formed after the morning run up on friday. That should be an efficient way to separate some people from their shares. Other scenario is: After the pole the DOW made a flag with a consolidation close to the high...take your Pick! There is no real conviction in this and so we are playing cat and mouse games. The NAZ shows evening star in the 60 minutes chart and a shooting star on the daily...topping patterns that need confirmation. We might still have another day in the NAZ since we haven't reached the descending daily 20EMA. But we failed at the first attempt to break back into the descending wedge.

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