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: Monty Lenard who wrote (35273)	5/2/2002 10:56:00 PM
From: TechTrader42	Read Replies (3) of 52237

Monty: Take a look at the monthly chart of the SOX, where it's clear that it's perched on the edge of a cliff. On that chart, the '97 high of 405.48 is one possible support level. Then there's the Sept. 2001 low of 343.93. There's also the '95 high of 303.85. Note the H&S pattern in the monthly chart. The weekly chart is revealing, too. Look at the '98 low of 182.59. In the daily chart, there's support around at 500. The next level down would be 486, and then 426. It'll be interesting to see whether 500 holds. Maybe a bounce there? Who knows? Look at the daily chart of the VXN, going back through last year. Now look at the weekly chart of the VXN. Interesting, huh? What does that suggest for the Naz, NDX and SOX? Take a look at a monthly chart of the NDX, too.

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