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: Vitas who wrote (35624)	5/7/2002 7:23:49 PM
From: TechTrader42	Read Replies (1) of 52237

I don't know which to hold out for, Vitas. It's all speculation. I don't think history repeats itself all that precisely in the market, so past data wouldn't offer much in the way of clues. Interestingly enough, the long-term Naz CI was still trending down today. How it'll look at the close tomorrow I don't know. I'm looking at what aj is looking at -- the failure of the SPX at support -- and wondering how that'll affect the Naz. And I'm wondering whether the LT Naz CI will hit 0. At the very least, I'd like to see the ST S&P CI go back to 0. The recent low was 26 yesterday. That's oversold, but it isn't a panic by any means. The Naz reversal at 1560 would be more persuasive if the S&P had found support, too. But maybe slippery reports are all the Naz wanted. Cisco didn't provide bottom-line projections. Or maybe the three identical crows really was saying something. Incidentally, look at a chart of the VXN. It's hitting the 200 SMA from below (a resistance level), and is a persuasive reversal signal (meaning the Naz could reverse to the upside). The VIX, on the other hand, might have to go higher (moving inversely to the SPX).

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