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

To: donald sew who wrote (39343)	12/26/2000 11:24:09 PM
From: NucTrader	Read Replies (1) \| Respond to of 42787

>>On a relative basis that was a strong move upwards on a day that was flat, again giving the hint of relative excessive short-term fear.<< Hahn said this about the VIX: >> The biggest bearish surprise of the day is the increase in the VIX reading. To go up on a day when the big board climbed is counterintuitive and suggests we are not out of the woods, yet.<<

To: donald sew who wrote (39343)	12/27/2000 9:48:04 AM
From: Paul Shread	Read Replies (2) \| Respond to of 42787

Hi Don, I hope all is well. Some quick observations after 5 or so glorious days away: Not so sure that NDX/COMPX/OEX/SPX aren't forming bearish flags of some sort; a quick peak tells me that 2450-2460 is support on the COMPX. They may just be rising channels, although we do have gaps to fill at 2340 on the COMPX and 1275 on SPX. Not quite sure if this is a countertrend move or not. Hopefully we'll just fill the gaps and won't set new lows next month... OEX managed to get back above previous 685 support on a closing basis, but Nasdaq couldn't take out 2523 on a closing basis, the early December bottom. A trend for quite some time on the COMPX, last experienced at 3000; broken support becoming resistance. Dow looks downright bullish to me, both from a top down and bottom up perspective: a number of huge inverted H&S bottoms forming in stocks like MCD, DD, UTX, IP. Given that COMPX doesn't look so good, OEX looks so-so, and Dow looks bullish, the near-term trend could be sector rotation into the old industrials, but this is all based on a quick look at the charts, having missed the last two trading days. INDU is forming a clear rectangle between 10,300 and 10,900; a break of either level would indicate a test of the lows or the highs. Yield curve came very close to uninverting on Friday; if it does so successfully, I would expect everything to ignite, probably financials more than anything. BKX is very close to a huge breakout (922.5). stockcharts.com I think Put/Call ratio closed at .84 yesterday, an odd move for a good couple of days. Would have to call that a positive, since it wouldn't take much of a market drop to cause that to spike. How's that for confusing evidence? <ggg>