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

To: donald sew who wrote (32877)	10/13/2000 12:30:52 PM
From: flatsville	Respond to of 42787

Thanks don. I've lately been studying the Naz/NDX weekly. As of market close this will be 6 weeks down. I'm beginning to think ol' Hahn's down side Naz target is a possibility. home.att.net >>>Today's NAZ low was 9 points from my price target. This presents a dilemma! When a price target gets hit before the time target (Oct. 20) gets hit, that opens up the potential for a move to a much lower target. The reason to stay in cash is the potential for a move through the first target. There are lower technical targets on the weekly chart. The technical situation remains precarious. Rallies are being greeted with heavy selling. No capitulation event has happened, yet. While no one wants to see further declines, I can't rule out a further drop of 700 points. Nasdaq closed today at 3074.68. The next most probable target is the 1.618 retracement which projects to 3065, as shown in the chart below. If the next rally is any good, there will be plenty of time to get on board.<<< (weekly chart below) home.att.net