Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: ALTERN8 who wrote (12315)	5/4/2003 3:05:48 PM
From: James Strauss	of 13094

A8: I said this Thursday: 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]dacl... 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... The SPX closed above the 918 area on the trendline... bigcharts.marketwatch.com. All major indecies look like they want to go higher... We could be getting one of those bullish blastoffs from the 80++ Stochastics area... Next resistance is the multi year downtrend line in the 962 area... A break through that could start another bull and send the bear on its way... Jim

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