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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (3022)	7/8/2000 12:01:15 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 30051

Hi Zeev: A couple of comments. On the overall market. The Nasdaq on the 50 pt. chart has returned above its bearish resistance line and appears to be ready to move to a new buy signal if it prints 4,100. The S&P while looking unhealthy early did not go down to its bullish support and gave a buy signal yesterday. The DOW also broke above its BRL yesterday. If we keep these levels it would bode well for the market. I'm turning more optomistic, not bullish yet. Now we know last week was a low volumn week with the holiday so some confirmation this week would be nice. The charts on some of the semi equipment stocks I follow look sick. LTXX, COHU come to mind and ASYT & CYMI also don't look healthy. The fundamentals seem good for these companies so maybe the stock prices just ran to far to fast in the mania and it will take some time for this sector to find support and consolidate. On SNDK the stock still needs to print $63 / 64 to give a PnF buy signal. QLGC - came back strong and is now over its 200ema. It gave a buy signal yesterday after its sell signal in late June. WSTL - its right on its bearish resistance line after Fridays move (a triple top break). printing $21 is a quad top break and TA wise the chart now looks very good (or will on printing $21. VLNC - Needs news soon. Printing $17.5 would be setting up a double bottom. QCOM - next support around $50. Hey I've always wanted to own this one but I thought $60 was support too so I'm sitting this one out. Have a great weekend. Tim