Silicon Investor (SI) -- The First Internet Community

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 : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (23870)	5/31/2000 7:12:00 PM
From: donald sew	Read Replies (1) \| Respond to of 42787

MAY 31 INDEX UPDATE --------------------- SHORT-TERM TECHNICAL READINGS: DOW - UPPER MIDRANGE SPX - OVERBOUGHT REGION OEX - OVERBOUGHT REGION NAZ - UPPER MIDRANGE NDX - UPPER MIDRANGE VIX - 26.57,PENDING CLASS 1 BUY(inverse to market) CBOE PUT:CALL RATIO - .49 5-DAY TRIN - approximately 5.03 Except for the NDX, today closed relatively flat, which I interpret as an indecision day(DOJI/SPINNING TOP). DOJIs/SPINNING TOPs are commonly found at/near short-term tops while in an uptrend. Since these DOJIs/SPINNING TOPs are arriving at the same time I had CLASS 2 SELL signals for the overall market, I suspect that selling could intensify as soon as tomorrow. Hey, the MAROZUBO worked. Please keep in mind that I only got CLASS 2 SELL signals so there is still the possibility of a little more upside which may delay the effect of the DOJI's for a day or so. Therefore I would not discount the possiblity that the market could still move up tomorrow/FRI. Dont forget the NAZ has that GAP around 3200 Of course we have more economic reports this week and an important one on FRI, so that could also skew things. If the market continues to sell off tomorrow, then that would mean that the market started reversing before getting CLASS 1 SELL signals which gives a hint that the selloff could be on the stronger side. The week after the end-of-month rally is statistically a weaker period, so we could see more downside next week. Will the market set LOWER LOWs, I dont know, but I would not ignore that possibility. The CBOE PUT:CALL RATIO is only .49 implying that there is still significant CALL buying and the VIX is nowhere near a peak, so from these 2 indicators, there's little sign of fear. --------------------------------------------------------------------------------