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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: StockOperator who wrote (37054)6/17/2002 9:11:05 AM
From: StockOperator  Read Replies (1) of 52237
 
NOK spoken about positively (again <g>),,,CSCO up (big pressure this week) premarket all green. Simple backing and filling to include the european markets. Folks there is nothing this market can do to keep from tripping over itself. They can pump stocks like NOK all they want, that pressure will be unavoidable all year. Here are some quick observations going into a new week.

Just looking at some of the stocks that are green in the premarket: EMLX - Strength today will attempt to mask a ugly close last week. The "print" on Friday is everything. AMAT - structure of the chart says "do or die." I'm leaning towards die. Same type of pattern for MRVL and MXIM - looks like the SOX in general. MANH - is running into a giant brick wall. This week's trading should expose the smart money's hand. QCOM - a stock that I have been talking about for months should do likewise breaking the multi-week consolidation on its chart. The close on Friday was bearish.

Another obvious pattern worth noting is for the transports. Check out the weekly chart. Multi-week h&s pattern ready to resolve itself. The pattern should definitely break right here heading into the end of the qtr..

As I said previously, the market is going to back and fill as it pleases. But my expectation is that any kind of "headfake rally" should probably come in the next qtr. (most likely early) just because I'm expecting a lousy "print" for this qtr. overall.

Just a couple of things to look at.
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