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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: donald sew who wrote (21010)10/7/2001 6:09:14 AM
From: Justa Werkenstiff  Read Replies (1) of 52237
 
Don: Good points. Here is another chart. Wedges on XLF and BKX were broken to downside. Looking at correlation between those two and the SPX suggests that SPX will follow suit. It looks as if the SPX broke the wedge but rallied back to touch the lower part of the channel. It just does not seem likely that the financials -- at this point -- will provide any stability to the overall market and will also tend to lead it lower for the time being.

finance.yahoo.com
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