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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: donald sew who wrote (21908)10/17/2001 5:32:37 PM
From: Justa Werkenstiff  Read Replies (1) of 52237
 
Don: Big engulfing is right. Looks like three outside down on the way.

Note in this chart the rallies of this past summer did a doji (evening star) off the 50 DMA and then failed. Today we got to the 50 DMA and did a bearish engulfing:

stockcharts.com[w,a]daclyymy[dc][pb50!b200][vc60][iUb14!La12,26,9]

One bearish development was in the Sox. Note how during the summer this one bounced above the 50 DMA on several occasions coincident with the Nasdaq. Not today. Not even close. Note also the new high on the comp. was not confirmed today on the Sox with a new cycle high. Suggests to me we will see new lower, lows on the Sox before the bear is over. Target: 300.

stockcharts.com[w,a]daclyymy[dc][pb50!b200][vc60][iUb14!La12,26,9]
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