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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Lee Lichterman III who wrote (17081)8/29/2001 9:10:18 AM
From: donald sew  Read Replies (2) of 52237
 
AUG 29 INDEX UPDATE
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Short-term technical indicators:
DOW - midrange
SPX - midrange
OEX - midrange
NAZ - midrange
NDX - midrange
VIX - lower midrange(inverse to market)

As mentioned when I got the last CLASS 1 BUY SIGNALS last week, I did not expect a strong rally, just oscillations with an overall slight incline. As of yesterday's close the NDX is only 56 points above last weeks lows. In light of the short-term MIDRANGE readings, there is still upside potential, so Im suspecting that we could still see some more up-movements but not alot.

There was a negative hint in the US DOLLAR per the candlestics. This pattern is not a common pattern and have not seen it mentioned anywhere. Nevertheless, I was taught that a series of DOJIs/SMALL BODIES could be a significant negative if they are moving in a certain manner. And yesterday the USD got a LONG LEGGED DOJI. Keep in mind that the USD had a strong intraday rally yesterday, but gave up all of its intraday gains. Not that the USD will drop immediately, but this is a negative candlestic sign. To negate this pattern, the USD would need to break and close above yesterdays intraday highs(the upper shadow of the long-legged doji).

Im running short on time, so will have to cut this update short.
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