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

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To: Paul Shread who wrote (24321)11/16/2001 4:11:22 PM
From: TechTrader42  Read Replies (2) of 52237
 
The decline was so minor that it strikes me as more bullish than anything else. Your observation about the two inside down days in the Naz was a good one. Thanks for pointing it out.

I suspect that the indices will move up to the 200 SMA. Once they broke through the 50, there was always the chance that they'd test the 200. That would seem to be the next shorting target.

The complacency indexes are overbought for the S&P, but they could be in breakout territory. It's anyone's guess. Much will depend on the news, of course.

The Naz CI's have reversed to the upside, and they're not overbought in the ST, though they've crossed the threshold in the MT and LT.

ST Naz CI: 62.458 48.075
MT Naz CI: 71.010 60.286
LT Naz CI: 75.822 70.600

ST S&P CI: 100.000 96.534
MT S&P CI: 100.000 96.793
LT S&P CI: 81.323 79.703
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