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Strategies & Market Trends : Humble1 and Swing Trading Friends
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To: robert b furman who wrote (4608)1/10/2011 6:05:59 AM
From: Fintas  Read Replies (3) of 41060
 
Now you tell me. Couldn't sleep. GIGGLE.

Thanks for that input. I remember thinking at the time I didn't quite agree with the time line presented given the environment we are in. Meaning I didn't think the selling could last that long to allow things to go to deep.

So I decided to take a look re both the SEMI's/SOX/NASD to present some data.

SEMI bell curve.

BP BELL CURVE SECTOR 62. Room to go higher but could dip a bit

BP Positive trend 62 DITTO

BP RSP aka relative 46 Rolling over with some more to go BUT
strength patterns

RSX: relative 56. This detail supports continuation UP
strength. I.e stocks
that have turned
Positive in their RS

30 week Momentum 82. Needs some relief

10 week Momentum 76 Needs some relief

Near term Momentum 50. Turned up recently and could extend
a bit but will roll.

Weekly distribution 21.5. Has rolled and can dip a bit more

Advance decline 1390. High POLE thus supporting selling

So the overall of this sector is positive but some relief is needed.

NOW we take a look at the SOX

Simply. Banging against a resistance. So eating up some time and any dip will allow it to bust up thru the 500 towards the 540 but expect some sideways and time to be taken before SOX gets thru congestion above the 540.

Finally the NASD.

I can SEE that 2134 ish suggested by another yet given other nuances I look at my view is we could retrace to the 2512-2404. I lean somewhere towards the 2458 But I'll tweak that as I see how other nuances play out. BUT the point is that unless there is something significant out there I think we roll from the 162 box size but from a HIGHER point. NOT to confuse but it's sort of how I determined we were not going to spx 950. Meaning we needed more to the upside to get that low. And given what I presented above I can see that 2400 area but NOT the 2134 area at this time.

Ok that's it and now you see a bit more of what I look. Yet keep in mind this is just one sector/semis and a couple of indexes. SOX/NASD. Think of the time spent to consider equities within and then all sectors etc. And why I say. IT IS WORK!

Hope it helps.
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