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Strategies & Market Trends : Angels of Alchemy -- Ignore unavailable to you. Want to Upgrade?

To: Smart_Money who wrote (23863)	12/21/2000 2:09:51 PM
From: KevinMark	Read Replies (1) \| Respond to of 24256

Market update: After charting the COMPX and the 10-year treasury yield ($TNX), we need 2 things to happen. Divergence on the Nasdaq COMPX "stochastic indicator", which means we will get some more selling in the next week, before this can occur. And, a possible retest of the OCT. 98 lows on the treasury yield that would put in a double bottom around the 41-42 level. I'm not sure how far down that will take us, but it will more than likely take us further down than 2250 with a possible intraday break of 2000. I expected to retest 2500 for short-term resistance, and then a fall, but it looks as though we got as close as we're going to get(2423). If we do rally into the close, do not expect anything more than a morning blip, then back down. I charted the treasury yield using a 1 year chart versus a longer term chart, and had a low of 50 that I was looking for, which we got very close today. Look for a minimum of 45 on the yield, before considering holding long-term positions for more than 2-3 days. EDIT: The only way for the markets to go higher, is for more liquidity to enter the market. Right now, all the liquidity is stuck in bonds, and until there's a reason to go elsewhere, it simply won't happen. The more the yield is driven down, the more investors will won't to find other places to make money. Hence the yield needs to fall a little more in order for that to happen. I hope that explains a little of what I was talking about up above. stockcharts.com[L,A]MACLYYMY[PC10!C30!C50!C100][VC60][IUL14!LI14,3!LH14,3!LA12,26,9!LC20!LB14] stockcharts.com[L,A]DACLYYMY[PC10!C30!C50!C100][VC60][IUL14!LI14,3!LH14,3!LA12,26,9!LC20!LB14] KM