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Strategies & Market Trends : TIMING INDEX MUTUAL FUNDS -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (13)	2/5/2000 1:31:00 PM
From: donald sew	Read Replies (1) \| Respond to of 428

Terry, I won't be posting all of my INDEX UPDATES here, but since I think this one is more important due to the strong caution, I will post it here. The previous INDEX UPDATES can be found at LEEs website: home.att.net Lee did most of the work, I just post so give him the credit. This way he can also take the blame if something goes wrong. ggggggggggg >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> FEB 5 - INDEX UPDATE(part 2) - WARNING FLAG!! --------------------------------------------- As mentioned in the previous update, I started getting puzzled since I had mentioned that I felt that the market would be in a TRADING RANGE, but after seeing the BEARISH PENNANT, BEARISH FLAG,POSSIBLE DOUBLE TOP in the DOW,SPX,NAZ(respectively), I am now turning more bearish for the short-term, at least. The POSSIBLE DOUBLE TOP in the NAZ, of course needs confirmation, but what is making me more nervouse is the BEARISH PENNANT in the DOW and the BEARISH FLAG in the SPX(best seen on the 60-min charts, but is also on the daily). What concerns me most of the 3 is the BEARISH PENNANT on the DOW, since the APEX of this PENNANT arrives on WED(FEB 9), only 3 days away. The LOWER TRENDLINE of this pennant is around 10,925 for MONDAY and if the DOW breaks below 10,925 significantly(50+ points), then that could resolve the PENNANT to the downside. It is quite common that once a CHART FORMATION, like the PENNANT, is resolved, the result is a strong & quick move in the direction of the break. Nothing is for certain, but there is enough to express strong caution for next week. After further thought, I also have to remember that the DOW gave a NEGATED BUY SIGNAL around JAN 21 and to this date it is still in effect. I originally got the NEGATED BUY SIGNAL around 11,300 range and until the DOW rises above 11,300 such signal remains effective. My NEGATED BUY signals imply that negativity should continue and could also intensify to the downside. Combining my NEGATED BUY SIGNAL, and the PENNANT/FLAG/POSSIBLE DOUBLE TOP, and that I got CLASS 1 SELL SIGNALS on the SPX/OEX/NDX/NAZ - I need to express STRONG CAUTION now! Im not great at setting targets, but I suspect that the DOW could test the OCT 99 lows around 10,000 within 1-2 weeks. No guarantee, just expressing caution and the need to watch if the PENNANT is broken to the downside. I need to check my previous INDEX UPDATES more often. Heres part of a previous update: >>>>>>>>>>>> JAN 18 - INDEX UPDATE - WARNING NOTICE!!! --------------------------------------- I normally do not wave my hands often, but there are times that I feel strongly about my position and Im waving my hands now. I am expecting a pullback of at least 5% and could easily get worse and be in th 10%+ range for the 3 major indices(DOW/SPX/NAZ). The timeframe for this pullback to start is from next week untill the 2nd week of FEB. I am suspecting that it could occur/start near my next short-term CLASS 1 SELL signal, so Im talking about 1 more short-term cycle. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< seeya