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: Jerry Olson who wrote (31970)	3/11/2002 9:35:49 AM
From: StockOperator	Read Replies (2) of 52237

OJ Thanks for the chart. But when you look at the SPX on a longer time frame you get a different picture. You get the same diverging picture for the DOW. Depending on how you cut the onion you get 10300 as significant resistance on one timeframe. Which we've clearly taken out. While if you look at the DOW on a monthly basis and use a simple trendline and connect the 1/00 top with the 9/00 top and then look at last Friday's close you will clearly see a trend that has kept prices from advancing during this whole consolidating picture. If it does break this level and hold it could be a big piece of the puzzle for the rest of the market. Re the sox I agree completely this group has been a force unto itself throughout the past two years. And yes there is the possibility that the action in the SOX all along has been the ultimate clue for the market overall. But yet that doesn't change the fact that the big three have not broken out yet. Let me just finish off by saying that I have never argued with prices. My approach to the market has never been perma-anything. When and I see those levels taken out I will be the first one to sing a different tune. Great trading.

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