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

To: Chris who wrote (34)	2/11/2001 3:58:31 AM
From: JRI	Respond to of 52237

Chris- On your chart on post 34....is the red uptrend-line now crossing around 2300 level? A little difficult to read from the chart... Perhaps a 1998 scenario might bring the needed capitulation...ie, we break 2300 on the downside intra-day (but good....by at least 200 pts)..and then rally back intra-day above line....I believe that is what that spike down in 1998 was.....the big intra-day rally on the Naz... I think it comes later, though, i think we got one more mini-rally starting Monday...if so, that red line will be moving up....to somewhere in the 2300's? (by middle/end of this week, next week?)

To: Chris who wrote (34)	2/11/2001 12:24:15 PM
From: Chris	Respond to of 52237

to JRI: yes 2300 on naz comp.

To: Chris who wrote (34)	2/11/2001 3:22:44 PM
From: Mike Sawyer	Respond to of 52237

Hi everybody! I was just told about this thread and have found it quite interesting. I'm a huge fan of technical analysis and try to read as much about it as I can. It's not a perfect science but it sure beats buying and selling on an anal-yst recommendation! I've got a weekly NASDAQ chart that I have been building on for over a year and thought I'd share my thoughts and get some back. The resolution on my chart is 1152 x 864. tatrades.tripod.com I also have older charts on the COMPQ listed at tatrades.tripod.com On my weekly NASDAQ chart I have constructed all parallel trend channels, support, resistance and time cycles. The "A" and "B" Red lines are showing major support and resistance areas. The "G" yellow lines are marking former support and resistance levels in the event that the market breaks down to a new low. The "C" and "D" cycle show the 74-week cycle of the long bull market. If you look for a matching bear cycle that would be about 26 weeks away as marked by the "E" to "F". That would put the bear market ending around the beginning of August 2001. I have read in the past that most bear markets last about 18 months. I think it was Martin Pring that said that in one of his TA books. The 18-month cycle would also point to August 2001 as the time frame for the bear market to end. This would also coincide with the sell off that usually occurs between August and October as the Funds clear out of their losers and move their money around. Also consider that anal-ysts are talking about companies seeing the next 2 quarters as being flat…factor that in and it also points to a continued bear market for the next 6-9 months. My best guess would be that the market trends sideways with a negative bias. I do think we could break to a new low. And if that happens I would watch the yellow lined area around the "G" to hold as the bottom. That would be around the 2000 area. The market needs to build a base before we can move into any long-term bull market. The green down trending parallel channels that are marked with the "H", show significant support and resistance in the current bear market. Well, there's my two cents worth…please feel free to pick it apart as that is how we all learn. Cheers! Mike Sawyer