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

To: Chris who wrote (24984)	7/7/2000 11:05:22 AM
From: John T.	Respond to of 42787

Chris, there is a recent down trend line on the DOW which runs across the 4/26 and 6/5 tops. Today, this downward sloping trend line is at about 10,625. If the DOW can take out this trend line, it might bring in buyers. Also, the 200-day SMA is at 10,738. The DOW needs to take that out. Right now the DOW is meeting resistance at its 50-day SMA -- 10,586. After that, the DOW needs to take out the top of the Diamond formation. That downward sloping trend line is drawn across the 1/14 and 4/12 tops. Today, that trend line is at about 11,100. Finally, we need to negate Don Sew's Class sell signals. That would show that the market is serious about moving up. My short term technicals are close to areas where the markets have typically turned down while in this present trading range. We need to negate these potential sell signals. One final thought for all you Elliott Wavers. We could be entering into a final up C wave of an A-B-C correction. I don't know a lot about Elliot Waves, but I thought I'd throw that in for discussion purposes.