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Strategies & Market Trends : Charting & Technical Analysis for Stock Indexes

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To: chartwiznyc who started this subject	10/30/2001 11:49:08 PM
From: chartwiznyc	of 211

Due to GDP # coming out in the morning, I will NOT have any charts posted. This number is critical to the market & could have a severe impact to the downside, For now MOST charts look ugly & many DOW & leadership stocks have daily & 60 min bear flags. The SP500, Nas & Dow had a consolidation day today & was a narrow range when markets retraced off gap down & setup 60 min bear flags, this sets up a breakout day tomorrow right into GDP number that many professionals are waiting for. I suggest should the markets BREAK DOWN tomorrow this will be confirmation of 60 min flags to the downside....could watch for 1, 5, & 15 min bear flags , SHOULD the number spark the market higher......then look for rally up wait for lower high & get short, the markets could have 1 more rally before they breakdown from the technicals.....BUT no charts tonight, everybody sees all the bear flags on the dailies across many stocks BUT since the patterns are large, no need to be first person in . let them break & hop on the short side on any rally....Chris

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