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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (24361)	6/14/2000 11:25:00 PM
From: Dan Duchardt	Read Replies (1) \| Respond to of 42787

Terry, I don't think much will happen till next week, up or down. You see anything that will move this market into the triple witch, full moon friday? To paraphrase Paul Simon, "a man sees what he wants to see and disregards the rest". Attempting not to be that man I've got charts with so many lines on them I can't see the bars clearly. Here's a few things: COMPX and NDX daily charts with BEARISH WEDGE to complement Don's VIX BULLISH WEDGE. Upper lines from May 1 high across recent tops stopped today's rise. Lower lines from May 24 low, by a couple early touches through yesterday's low. These will converge to less than a normal daily range by Friday. A weak open tomorrow could blow out the bottoms. SPX broke a minor 8-day down trend line today but could not break the high of that trend, then gave it all back leaving an inverted hammer, plus a triple top from April 26, June 2, then today. A rather bearish looking picture to me. Dow held back by downtrend line originating April 26 crossing recent days highs, and failed to hold above 10dma. All this on a day when the CPI "confirmed" the economy to be returning to manageable growth. I don't know about witches and full moons, but I'm reading a lot about the numbers being cooked to create a benign report, and then we have Gersh giving us sell signals ;) I don't see any reason for us to go higher here, but then I sold everything too soon last week. I'm a bit heavy in cash in my IRAs, thinking the next substantial move is more likely down. I'm rootin for Gersh in this round. Dan