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

To: Gersh Avery who wrote (38255)	12/17/2000 11:57:25 AM
From: donald sew	Read Replies (1) \| Respond to of 42787

INDEX UPDATE(part II) ---------------------------- Thanks to Gersh for pointing it out, it should have read OVERSOLD not OVERBOUGHT: >>>>>SPX - BORDERLINE CLASS 1 BUY(intraday), OVERBOUGHT(closing basis) OEX - BORDERLINE CLASS 1 BUY(intraday), OVERBOUGHT(closing basis) NAZ - BORDERLINE CLASS 1 BUY(intraday), OVERBOUGHT(closing basis), SHOOTING STAR NDX - BORDERLINE CLASS 1 BUY(intraday), OVERBOUGHT(closing basis), SHOOTING STAR <<<<<<<<<< One of the more important issues concerning market direction is the US DOLLAR. As of FRIDAY the USD produced a very slight LOWER LOW on a INTRADAY and CLOSING BASIS, which made a complete short-term cycle of LOWER HIGH & LOWER LOW, which implies that the trend may be changing. Of course, since the break was so slight it could just be an overshoot to the downside, so confirmation is required. The BULLISH TRENDLINE from the OCT 1999 lows on the USD is now around 112, and on FRIDAY it got as low as 112.48 and closed at 12.90. A clear/significant break of that BULL TRENDLINE would be a signifcant negative and a confirmation that the trend in the USD has changed. This is the main reason I am not confident on calling the MAIN BOTTOM yet in any of the major indices, including the NAZ/NDX. Of course, if the USD resumes its bull trend and sets new highs then that would be very bullish, but for now the USD appears to be just starting to head down, and thats now good for the stock market.