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: Haim R. Branisteanu who wrote (44375)	5/1/2003 3:03:34 PM
From: James Strauss	Read Replies (1) of 52237

James we are now above 918 on the SPX what is you take now ? The market "huged" the SPX 918 for two days now Haim: Note the blue horizontal line on the chart in the 918 area... There has been quite a battle around there... Stochastics and MoneyFlow suggest an overbought situation... Sometimes you can get a continuation of a bullish move from these levels... For that, we'd need to see the MoneyFlow levels rise... stockcharts.com[m,a]daclyyay[pa918!c20][vc60][iLp14,3,3!Lc20]&pref=G Perhaps the anticipation of President Bush's speech tonight declaring an end to the full military aspect of the U.S. presence in Iraq to a rebuilding/policing presence is giving the market a reason to look past the current weak economic numbers... It's always bullish when the market shrugs off bad economic news... We may be seeing that today... Tomorrow could be the real key to short term market direction... It will have digested the Bush speech and current economic data... It's reaction to all this on Friday should be a good barometer of investor sentiment... Jim

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