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

To: Arik T.G. who wrote (5064)	4/5/2001 10:50:27 AM
From: donald sew	Read Replies (2) \| Respond to of 52237

Arik, >>>> My thinking is the 13d MA (currently 1599 on the NDX) is the first ST resistance and should be met at the high tomorrow, and if we hold 1540-50 by Friday's close then this week will be a hammer which is supportive to the weekly class buy. Then minimal Fib (23.6%) to the leg from January is @1688 and normal Fib is @1895. The Fib corrections are both magnets and resistance, and the market usually overshoots them by a few points. So the picture I have is 1580-90 high tomorrow, 1540-50 close and higher next week to 1700, then you'll get a class sell for a pullback.<<<< I have the trendline off or the JAN peak around 1540-1550, which is in line with your figure. Then I have horizontal resistances in the 1582-1751 region. I would be surprise to see 1751 broken to the upside for this specific short-term uptrend(1-5 days). It would be good fairly positive if the NDX could get above 1600(Im talking very short-term)