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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Chris who started this subject11/13/2001 8:25:00 AM
From: donald sew  Read Replies (4) of 52237
 
NOV 13 INDEX UPDATE
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Short-term technical readings:
DOW - upper midrange
SPX - upper midrange
OEX - upper midrange
NAZ - upper midrange
NDX - upper midrange

As mentioned in the past often, depending on the intensity of the news item/fundamentals, such can over-ride the technicals. Also mentioned often recently, I feel that once Bin Laden/terrorist network under control the market should rally/bottom, as per our research that during wars the market is either flat/down, but once the war is over the market rallies.

The futures are now up very strongly since the Taliban have now lost control of KABUL. Now the question is whether the military offensive in AFGANISTAN is nearing an end? If it is then I feel its time to go long, but if the offensive continues with no further significant advancement then the market should just resume it warring stage of flat/down.

I dont want to make this into a political discussion, so I will keep my opinion on the the military offensive to myself, since it is not a technical issue. But thought it is important to mention it since fundamentals can over-ride the technicals, if strong enough.

For the short-term the previous high last THUR on the NDX was 1580 when I got an intraday CLASS 1 SELL. Need to see if 1580 holds or not. Im not predicting.

The market internals were still BLAH-BLAH-BLAH(not great-not lousey either), so lets see if the market internals improve significantly today with the news of KABUL.
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