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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (33081)	9/14/2000 5:11:42 AM
From: IQBAL LATIF	Read Replies (3) \| Respond to of 50167

Most interesting charts are for SOX and PSE, as a matter of fact these two indexes were last to test the 200 days MA on 5/23 and 8/2 for SOX and 8/7 for PSE respectively, SOX did violate the 200 days sanctity on 8/2 however recovered, NDX Comp DJI and SPC has long history of tests of 200 days MA n SPC breaking that on 10/15/99 making a low of 1245 well below that then 200 day ma at 1310. SOX and PSE on that day just tested or hit the 100 days even violated it but continued the run up.. From first test of 200 days on SPC in Oct of 99 to SOX test of 200 day MA in Aug we have seen the two indexes hit the 200 days MA twice and yesterday a close above that 1003 level which is SOX 200 days MA, that is a double test of 200 day within 30 sessions give and take few.. if we continue to stay above 1003 and NDX Comp overhead 200 days resistances 3767 and 4015 are taken out that would be a very positive technical development, I think it woudl be suggestive of a legitimate retracement within a bull run where broader SPC made a low of 1339 on 4/14 and high of 1530 on 9/1 a 189 point move retested the support at 1482 and ready to take out and resume if that is the case a double test of SOX and PSE 200 days MA would mean that path of least resistance is upward, however for that to be confirmed I think today and tomorrow action will determine the direction of future move for next month will it be a bad sept and Oct or for a change a good one.. I think ORCL PPI CPI and manufacturing data with cap utilisation will clear up a lot..fwiw..