Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (7018)	3/5/2001 3:22:59 AM
From: macavity	Respond to of 19219

J.T. As we all know we are on the 10yr Log Trendline for COMPQX and just above the 1998 High. COMP > 2050 and NDX > 1850 are my support levels. The bullish indications, that I see (short-term), have been thurs/fri down openings. Clutching at straws - perhaps. NDX reverse hammer can be construed as bullish and also the SOX/SMH looks to be holding, with a more bullish pattern. Resistances SMH < 48 (surparsed it intra-day) and also INTC < 30 are my tells for any rally. My main worry is the broad market - especially the SPX/OEX combo. You can chuck in the BKX/XBD/TRAN/CYC and other Old economy groups. The technicals say be wary, yet the sentiment, as I read it, is not bearish/fearful. I do not get any US market headlines/news so I cannot tell what/if J6P is thinking. The only read I have is the impressions I read and there are two themes. i) Are we there yet? People praying for the bottom as they are long. ii) People waiting to sell any rally. (Because they missed it, or are long). The drip-drip decline is the worst of worlds for both these groups. Awaiting a rally / awaiting a crash. I would not be surprised if we got either. Good luck all. - macavity