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


To: Arik T.G. who wrote (27903)8/18/2000 9:53:08 AM
From: Paul Shread  Read Replies (1) | Respond to of 42787
 
The NAZ has crossed above its 200 DMA four times during this correction, not including today. Twice it closed the day before quite a bit below the 200 DMA and gapped up through it - it went on to post decent gains both those times. The other two times it closed just below the line in a hammer, just like yesterday - and both times it peaked in the next day or two and then reversed. One of those times it went down significantly, the other time it only declined for three days.



To: Arik T.G. who wrote (27903)8/18/2000 10:20:25 AM
From: donald sew  Read Replies (1) | Respond to of 42787
 
Hi Arik,

Lee also has 4100 as a resistance. I still dont have a CLASS 1 SELL signal on the NAZ just a overbought/borderline CLASS 2 SELL, so there is still a little more potential upside which would be in line with your resistance lines.

Im still getting the feeling that we may selling on the news concerning the FOMC meeting. It may not happen immediately, but I dont think a rally after the FOMC will be all that strong.