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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Iris Shih who wrote (22392)	7/29/1999 4:17:00 PM
From: Clint E.	Read Replies (2) \| Respond to of 70195

Iris, you probably know this but right around its 50 dma(62) where it tried to penetrate thru yesterday, it has lots of resistance. Nevertheless, I liked how MMs didn't break the stock today and how it is trying to break its downtrend line. GE got within a point of its 50 dma(109-1/4) and bounced. The DOW closed below its 50 dma(10850). Not good. 10750 seems to be some sort of support. We could be range-bound between 10750 and 11000 for now, until the next unemployment data next week. The timing of today's economic data was off. Ideally, I would have wanted to see this data yesterday, dropping lower because of it to get a good shakeout going. Ideally, I want to see the market going lower. How much lower? 10600 on the DOW, 2550 on the NAZ, and 1320 on the SPX. It makes trading much more profitable when you have a good selloff that takes the market below some support level and get people to talk about corretion. I guess you can tell that I like spike-lows!!!