Stock Attack II - A Complete Analysis Message Board

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

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To: Paul Shread who wrote (28685)	1/29/2002 3:36:26 PM
From: TechTrader42	Read Replies (1) of 52237

The CI's hit 0 for the S&P several times after 3 o'clock. There was a huge reversal in sentiment, as the lemmings ran over the cliff. Here's where the CI's are now: ST Naz CI: 63.325 100.000 MT Naz CI: 63.325 100.000 LT Naz CI: 93.631 100.000 ST S&P CI: 5.339 98.082 MT S&P CI: 5.339 98.082 LT S&P CI: 87.058 99.775 When the CI's were hitting 0, the S&P hit support at 1098. The support is visible with 20-day Donchian channels. There's support for the Naz at 1882, from 1/22. The Naz has come close to testing it today, at 1883. There are some great unknowns ahead. The mood is now bearish, because of the sudden realization about questionable accounting. But AG has yet to have his say, and shorters might start covering, on the off chance that he waves his magic wand. I have absolutely no idea whether there will be a short-term bounce here. The S&P CI's, and the support levels, certainly suggest that possibility. However, the support levels have to hold through the day. If the S&P breaks under 1098, sayonara. Same with the Naz at 1882.

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