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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Monty Lenard who wrote (35550)5/7/2002 10:39:05 AM
From: TechTrader42  Read Replies (1) of 52237
 
Look at the identical three crows in the Naz chart. (Nison , p. 101.) The occurrence of the pattern now is interesting, because some buy signals are appearing. My ST Naz CI touched 0 again yesterday and this morning. And I think Don may have got a buy signal (though I don't know for sure). But the SPX failed at the 1053.6 level yesterday, and that could weigh down on the Naz. And the LT Naz CI is still at 19, and the SPX CI's haven't hit 0, in the ST or LT.

So I wonder what the three black crows pattern means for the Naz in the midst of oversold indicators. It's not a good sign -- just doesn't confirm any buy signals. Nison says the pattern is very bearish.

The SPX, having breached support at 1053.6, might head to a level of congestion in late Sept., near 1000. The Dow might test support near 9798.
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