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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: Dominick who wrote (10463)2/15/2002 3:42:14 PM
From: StockOperator  Read Replies (2) of 19219
 
Dominick,

That sign of weakness you refer to is right on the money. The SOX will come under the same pressure you're seeing in the rest of tech land. And a lot sooner than later. We are in the process of topping out in stocks like AMAT and INTC is ready to start giving up some of it's post 9/11 gains. Watch for a more pronounced weakness starting next week.

My read on things tells me that the top in prices has been set this quarter and going forward through March it's going to be all about prices challenging those old lows. How prices handle those lows and where we close heading into April is what is could make or break the year. A collapse in the S&P from here could (structurally) be devastating to the market.

Just my read.

SO
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