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Is this another fake-out breakout?I have 5 pages of TA but too late to enter the whole thing. Bottom line,buy signals on Intc,Msft,Cpq,Amat.Klac,Ter and Iridf look similar.Last buy signal on Amat was late April,'97 when it was at 25(split-adj) before the zoom to 50's.Amat highlights tonight:Mov Avg 50 Day:trend up,buying opportunity.Parabolic Indicator:long term trend based on 45 bar mov.avg. just switched to UP.Short term based on 9 bar mov.avg.,just switched to Up.Issued bullish signal.Boll Bands:overbought, but may continue.Mov avg 3 Lines:market EXTREMELY BULLISH.Everything in this indicator is pointing to higher prices,short term.On Bal Volume Indicator:neutral, current trend should remain intact.%r overbought, but only good for picking tops in a Bear Market,which we are not in.CCI crossed into bullish region,issuing buy signal.Dmi signaled a bullish trade, and the ADX is rising.A good upward move from here is possible.Mass Index:signals a price reversal when the index line crosses setup line at 27.00 and drops thru trigger line at 26.5.Now at 24.83.Momentum plus one,bullish. Accum Dis neutral.Trend intact.Bottom line,overbought and may turn down soon(like last 5 times?), or finally breaking thru 37.5 and upward. Since Cpq,Intc, and Msft beat earnings estimates, maybe now the techs are attractive again.Also Volume picking up, which adds to Volitility.JMHO,caveat emptor.jh |
