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: Chris who started this subject	12/13/2002 11:44:49 AM
From: Henry J Costanzo	Read Replies (1) of 52237

Near the turn??? On Dec 2, I posted projections for pullback in major indexes, basically down to around support at .38 FIB retracement of October rally, at 50-day SMAs, and to area of mid-November lows -- to about 8250/8300 DOW, 875 SPX, 1350 COMPX, and 300/310 SOX. Dow, SPX , and COMPX still have not pulled back .38 FIB. and I take this as a sign of underlying strength. But they are in the area of 50-day SMA and Nov lows. Only the SOX has pulled back a .38 FIB. The daily charts are beginning to look pretty heavily oversold, and the 60 min charts are showing positive divergences in RSI and MACD. Looks to me that upturn is near, and beginning to move into longs.

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