APMP (formerly APM) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : APMP (formerly APM)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Rudy who wrote (11183)	5/27/1998 1:44:00 AM
From: Rudy	Read Replies (1) of 13456

*** CAUTION ADVISED. - Short term correction may be in the way. DOW at 8965 and it is exactly support level! (Guess I found out one more time that charts really mean something!) Next support level is at 8763 (which would make it 6% correction). If it is really a correction, I think it will go down to check 30Wk MA support. 30 Wk MA is 8372. Considering intraday high registered at 9312 that would make a 10% even correction. Short term is oversold however long-term MACD looks like it will issue a bearish crossover sign soon. Transports 3366 is also sitting right on support (3367). Coincidence??? In their case 30 Wk MA is much closer at 3372. NAZ 1778 has support ar 1758. Long term weekly MACD is bearish. As I posted earlier, I am about 70% cash now in this directionless market. When it turns bull again (no other way I see in the mid to long term) I will have dry powder. Wish all of you good luck. PS: Opinions about market direction and your forecasts about coming industry groups to lead out of this temporary stall are welcome.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next