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

To: Paul Shread who wrote (37990)	12/13/2000 3:52:45 PM
From: Terry Whitman	Read Replies (1) \| Respond to of 42787

Another Rising wedge has fallen in the NDX. I know chart formations aren't 100%- but gosh, that Rising Bearish Wedgie has been pretty darned accurate over the last few months. I'm so confident in this formation now, that I'm sure it must be wrong this time. <g> FPP looks somewhat bullish here.. siliconinvestor.com

To: Paul Shread who wrote (37990)	12/13/2000 4:15:55 PM
From: donald sew	Read Replies (4) \| Respond to of 42787

Paul, >>>> Do you still see enough positives to conclude that we're only in for a retest? <<<< I look at retests in terms of them either succeeding or failing. For now, if there is a retest, the NAZ INTERNALS, specificly the NEW LOWs are not deteriortating extremely. They did get worse with the NEW LOWs around 166, but it really did not worsen dramatically, at least not yet. If the NAZ NEW LOWs can stay above the previous lows of 800, that would create a positive divergence and a hint of just a successfull retest/double bottom. The NDX formed a MAROZUBO, which implies continuation to the downside; however it is common with MAROZUBOs that the following day pops to the upside, and selling to resume thereafter. If tomorrow pops to the upside it would need to break above the top of the MAROZUBO to negates its negative influence. So I wouldnt get overly optimistic if the NDX rallys tomorrow, unless it can take out todays highs. There is also a BEARISH WEDGE forming on the OEX, which was probably aready mentioned. The OEX closed at the lower trendline of that wedge. Should be back posting regulary by the end of next week, latest. seeya seeya,