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Strategies & Market Trends : Classic TA Workplace

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To: Shack who started this subject	1/29/2002 11:40:40 AM
From: The Freep	Read Replies (2) of 209892

Today's move really shoulda been expected: everyone's looking up, as even bears figured a pop up to 2000 or so on the Naz was in the cards. Might still be coming, of course, as this could be a headfake move (and Shack and AA both were expecting one more low yesterday). Still, this needs to turn right about here to keep any "up" scenario in play. When I'm confused like this (often), I recall back in January of 2001, the last time I watched CNBC, that some analyst said that the key after the Fed meeting was to watch the market closely and the FOURTH move was the one that would tell you the ultimate direction of the reaction to the news. So. . . maybe this is a headfake down after this morning's headfake up. Then we get up. . . and then down for the fourth move (amazingly, the same as the second move) <g> Yeah, that must be it. the freep

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