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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Paul Shread who wrote (29040)2/1/2002 11:08:26 AM
From: ajtj99  Read Replies (2) of 52237
 
The 60-minute charts were pretty overbought yesterday. I looked back at some sticks similar to the reversal stick we saw Wednesday, and it seems after the 2nd day, there is a often a period of consolidation. A red candle would be perfectly normal today, and a nice white one may come on Monday as shorts get burned and stops get blown at SPX 1132. I think after that, gains could be muted with a couple of doji's making higher highs, making SPX 1142 a good stopping point.

As for the NDX 1590 and 1607 seem possible targets for many of the same reasons. The AJC signal may not work this time, but was it the real deal yesterday? I think she has to be bullish for it to work, and most said she just reiterated her target, but did not say anything about the near term market prospects.

I think the AJC indicator needs to have an RSI to get a better read on it.
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