Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 60.74

+4.6%

Jan 16 4:00 PM EST

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To: J.T. who wrote (81)	1/17/2002 11:59:15 PM
From: Chip McVickar	Read Replies (2) of 207907

Hi J.T., The pitchforks I use are tell'n me all three major indexes have reached a median line and reacted by being pushed away and higher today. Suggests higher prices. Also the spx came to a clean 3.82 retrace off the low on 10/31. All 3 put in nice reversal bars, with the spx showing a nice inside day..., and the larger bar pattern now suggests we get at least two more days with higher prices. There's been a nerviousness over the last week as the Enron thingie plays out, and I believe the large traders made good use of that "Fear" to have their way. So I like your "trap" idea a lot.... along with tha time gap comin on monday.., CLX strength, I'm looking for a few days of rebound to sideways for next week. Chip

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