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

To: Lee Lichterman III who wrote (131)	2/12/2000 7:41:00 AM
From: donald sew	Read Replies (2) \| Respond to of 428

Lee, I posted the note on the "3 PEAKs and DOME". I think the chances of NEW HIGHS immediately in the NAZ is weakening. From my understanding of the 3 PEAKs and DOME, the selloff should at retrace back to POINT 14 which would be the OCT lows. The DOW is only 400 points away from it already. As for the NAZ, I suspect that if the DOW and SPX do approach the OCT LOWs, then the NAZ could possibly sell off 1/2 of its runup since OCT or more, which would be back in the 3200-3300 range. And it could get worse. If the 3 PEAKS and DOME was to also fully impact the NAZ, that would be back in the 2500 range. Looking at the timeframe, and if I am correct about the SPX performing the 3 PEAK and DOME act right now, it appears that the downtrend could be very quick and finish by the end of FEB/early MAR. That would also give us a good buying opportunity, regardless if new highs are set thereafter. Im more inclined to say that this is not the big one, but if the SPX does get near back to the OCT lows, the NAZ will also get hit, but not as much. It will just be another buying opportunity, at least for traders. Here are the simple chart support lines I am coming up with for the DOW: 10350-10300 10080-10000(strong support) In light of expiration next week, I suspect that the 10350-10300 support area will hold. I also suspect that the forthcoming bounce should be relatively weak and noot exceed the resistance in the 10700-10800 range. Then after JAN 18(buffer of 2 days), the selling should coninue. I would suspect that the JAN 18 timeframe should be a good opportunity to short the NAZ. seeya