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Strategies & Market Trends : P&S and STO Death Blow's
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To: ajtj99 who wrote (21789)1/1/2003 10:33:33 AM
From: nsumir81  Read Replies (2) of 30712
 
Jan 2001 again? Was watching only the full stochastics weekly on COMP NDX etc..they seem to be slowing in downside momentum just above the 50 level. And the slowing of momentum is what is important imo at this juncture. Separately, fwiw the anemic volume on a weekly basis is also getting lower to the downside.

Also for nice round numbers, we have retraced almost 200 pts on the COMP from the intraday highs and have come within 1 % of the lower daily Bollinger.

With the daily patterns like the SOX exhibiting a possible descending wedge, it seems to me that the setup is being made for a rally in January.

A possible la-Jan 2001 rally (that mimics also something we had in March 2002) that btw occurred through earnings season (now about 10 days away?)

..dunno if I am missing something, but what happened to all the preannouncements (the usual like LU NT etc) that typically occur? Of course, all was probably drowned out by the continuous extraneous news media drum-beat.

Jan 2001 was an up month on a net basis and yet we had a down year then, although not as bad in relative terms like 2000 or 2002.

Who knows, the market for 2003 might be like the 2001 market (lower lows in between but a recovery that gets back most of the intra-year losses by the end of the year).
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