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

To: Nancy who wrote (1031)	2/24/2001 12:33:00 AM
From: donald sew	Read Replies (1) \| Respond to of 52237

Nancy, >>>> about the 7% or bigger decline high probability for retest - would this new low qualify for that ? i.e. we could retest after this relief rally? <<<< I have never had success in second guessing statistics, so I no longer try. I did an analysis a while ago, where I noticed that during bear markets it was most common for bear rallys back to rebound to the FIB 38%+ levels. So if today an important bottom, the odds are that the rebound should take the NDX back to the 2800 region. I realise that a break above 2500 region would break many resistance areas and many would start to become bullish. However, according to statistics 2800 would still fall under a common bear market rally. If it does get to 2800 I think many would think that the bottom was set, similar to when the NDX rallied back to 4100 in early Sept. Subjectively when most are bullish, is when the negativity starts. Until 2500 is taken out to the upside, I feel that most would still be hesitant, but at 2800 most will become bullish.