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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Robert Graham who wrote (4270)	12/20/1997 3:38:00 PM
From: Chris	Read Replies (1) of 42787

* eye popping charts: geocities.com both charts are indicating downtrends... please note that the naz is hitting (the low) the bottom channel line. this might indicate a reversal.. However, reversal means in the "short-term sense". IF naz reverses, then naz should rally up to the middle red channel line (around 1540) if you recall, that 1540 is THE NECKLINE! The DJIA is at the top part of the channel. that is not good since there is more "downward" movement potential. I think djia can go to the 200 ema which around 7500.. notice we have fib support at 7590-7600.. ============ Summary: naz might have a reversal.. and will head back up for this week. but djia can go down to 7600-7500... again, this is all using price/trendlines. if you look at the indicators.. all looking weak.. please feel free to comment.. I think it's important we discuss this as this is a MAJOR event in this mkt.. you can bet if the naz goes up this week, everyone will be cheering. but look at the overall picture.. Chris main website at: geocities.com new website 1/2 completed. stay tuned.

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