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	10/10/2001 6:06:39 PM
From: donald sew	Read Replies (5) of 52237

OCT 10 INDEX UPDATE --------------------------------- Short-term technical readings: DOW - borderline CLASS 2 SELL SPX - overbought region OEX - overbought region NAZ - overbought region NDX - overbought region SOX - borderline CLASS 1 SELL VIX - lower midrange NAZ NET NEW HIGHs-LOWs = NEGATIVE 43 5 DAY TRIN - slightly under 5, had to eyeball it from chart If the market continues up, I will get a CLASS 1 SELL SIGNAL within 2 days and possibly as early as tomorrow. I will consider today's action as being somewhat bullish in terms that the forthcoming short-term pullback may not be that strong, and that it may be confirming that a mid-term bottom(30-days) may have been set, as mentioned in yesterday's update. Im suspecting that HIGHER LOWs(bullish) should be produced on this forthcoming short-term pullback. As for the NAZ/NDX, the forthcoming pullback could push it back into retest region, only because its significantly closer to the SEPT lows. For the short-term, I suspect that we are nearing a short-term pivot point which could occur as early as tomorrow/FRI. There were some short-term weaknesses in today's rally. One issue is that today's rally was on lesser relative volume. Another issue is that the NAZ NET NEW HIGHs-LOWs did not improve much, so if the NAZ/NDX continues to move up without improvement in the HI-LOs, that would be a hint that this immediate short-term rally may not have much more legs. On MSFT, there was the THRUSTING PATTERN(bearish) which has moderate/low reliability. Such implys that the selling MSFT could resume as early as tomorrow. Again, it has only moderate/low reliability, but should still be mentioned. Still holding onto the QQQ JAN 04 25 LEAPS, but may sell OCT calls against them tomorrow.

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