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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (24797)	12/13/2000 5:02:40 PM
From: Dealer	Respond to of 65232

STOLEN STUFF-fer you TA guys From: donald sew Wednesday, Dec 13, 2000 4:15 PM ET Reply # of 38000 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. seeya,