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

To: Paul Shread who wrote (29653)	9/13/2000 11:49:00 AM
From: eichler	Respond to of 42787

Paul The significant feature on the daily charts for $compx, $dji, $spx is series of lower highs and lower lows (except $dji which has not yet put in a lower low than yesterday). Just looking at the daily charts & eyeballing the stochastics and ADX, it looks to me the downside has more to go in terms of time (days) and price (3600 $comps looks like a reasonable target). My guess to your question (bounce or break) is that we break unless the market can engineer a turnaround in short order. I have to believe we are trending down until the dailies show something positive...a good candle, stoch crossover, adx turning positive. So far, I see nothing that would make me do anything other than screen for good shorting opportunities. In fact, with bellweathers (or former) CSCO and ORCL charts ominous appearance...stcgg may even get his wish <gg>. Just my opinion, not a recommendation to buy or sell. Eichler P.S. I find it alarming that the major averages have reached a consensus...all going down together (no apparent rotation).