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

To: sandeep who wrote (25037)	7/7/2000 7:55:20 PM
From: dennis michael patterson	Respond to of 42787

Based on what I am reading, the indicies will all be resuming their downtrends in 2 weeks. The cycles for the second half of July are poor. Hit-and-run trading is the only way to make money-- still. There is no trend, IMHO. As B Beara would point out-- rightly -- there is NO volume

To: sandeep who wrote (25037)	7/8/2000 8:10:41 AM
From: donald sew	Read Replies (1) \| Respond to of 42787

JULY 8 INDEX UPDATE --------------------- SHORT-TERM TECHNICAL READINGS: DOW - CLASS 2 SELL SPX - CLASS 2 SELL OEX - CLASS 2 SELL NAZ - CLASS 2 SELL NDX - CLASS 2 SELL VIX - 21.92, CLASS 2 BUY(inverse to market) CBOE PUT:CALL RATIO - .48 5 DAY TRIN - 5.25 As I have mentioned on several occassions, CLASS 2 SIGNALs are commonly preliminary warnings that a CLASS 1 SIGNAL is a day away, but a reversal could still occur that day of the CLASS 2 signal. The DOW/SPX/OEX/NAZ closed closer to their highs, but it was interesting to note that the NDX gave up about 50% of its intraday gains, all within the last hour. Of course it is inconclusive, but could the selling in the last hour of the NDX be a hint that a reversal may have already started on FRIDAY. On THUR the NDX diverged from the NAZ to the upside, and I noted that there were some comments that such was very bullish. Well, the opposite occured on FRI where the NDX was lagging the NAZ. We closed our ULPIX(long-SPX) position and entered a small URPIX(short-SPX) position on FRI. I decided to act on a CLASS 2 signal now since the market is still overall in a tight trading range, and since the beginning of JUNE, the overall market has seen clear UP-DOWN PATTERNS. Per my WEEKLY CHARTS the SPX/OEX/NAZ/NDX/DRG/BTK are all in CLASS SELL territory, which is implying that the overall market may be nearing a MID-TERM TOP. Im not saying crash, but the pullback could be on the stronger side. Keep in mind that the END-of-MONTH RALLY statistically extends 3-5 days into the next month; therefore it should be coming to an end soon and the week thereafter is statistically a weaker period. Since I only got CLASS 2 SELL SIGNALs, we could see 1 more day of upside or flatness, but feel that the selling should resume in a day or so, if it hadnt already started by the hint given by the NDX in the last hour of trading in the NDX.