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Strategies & Market Trends : Candlestick Charting--The unknown indicator
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To: Jerry Olson who wrote (1055)1/9/1998 1:16:00 AM
From: MonsieurGonzo  Read Replies (1) of 1589
 
OJ; RE:" Major Market Indices "

DJIA:

8027.5 TOP
7968 +/- 4.5
7910.5 +/- 7
7841.5 +/- 7
<<7802.5>>
7765.5 +/- 9
7667 +/- 25 BASE

OEX:

467
464
456
<<453>>
450 +/- 1
442 +/- 1
432.5 +/- 1

NDX:

1080 TOP
1062
1030
1020 +/- 1
<<994.5>>
980 +/- 3
950 +/- 5
910 +/- 7

>>...the Naz wants to go much higher!!!

The SOX.X does feel that way; I interpret this as a combination of buying in anticipation of INTC earnings and options expiry.

The DJIA wants to rally, too - it reluctantly responded to some big-time drops in the Asian Markets. More important, I think, are two other factors, Jerry:

(1) big-time drops in commodity prices like OIL and METALS and PAPER are affecting the industrials, while pumping up air & ground transportation companies.

(2) big-time realignment of the financial sector which will take a hit on refinancing rush and credit-card biz in the short term.

There is CASH all over the place; it ain't going in to equities (yet) other than the usual speculation on TechStock earnings. Should we get some positive earnings from Tech bellwethers this month, the market will go absolutely nuts. Yeah, it wants to go up, man - you got that right !

So what's your read, oh wise one ?

-Steve
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