P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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To: Justa Werkenstiff who wrote (4267)	7/27/2002 7:52:37 AM
From: Justa Werkenstiff	Read Replies (3) of 30712

More reasons why (Nasdaq) NDX has not made a bottom: 6. Max Pain dropping like a rock to 23-24 toss up now. As triangle dance the past few days continues into the apex, max pain drops. 7. The retrace calls for a 780 target at this time for the NDX to coincide with the Nasdaq during same time frame.. That is QQQ 19.50. This lines up nicely with what we are seeing in max pain. Here is the retrace with horizontal lines at 910 for yesterday's close and at 869, the local low: stockcharts.com[h,a]daclynay[d19970224,19970524][pc9!c13!c20!d20,2!a910!a869!f][iLa12,26,9!Lh5,5!Li10,10!Lp14,3,3!Ll14]&pref=G 8. The Sox is still under heavy pressure. There were many caught holding the bag when Taiwan Semi warned and these moved lower. There is still heavy pressure on the Sox. Even with an upgrade yesterday, they kept selling them. 9. Rydex stills show heavy purchase of Velocity (+2x) on the way down. The Tempest/ Titan divergence is not present with the NDX funds. I think one has to sell into any EOM paint.

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