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

To: isopatch who wrote (5186)	4/6/2001 10:00:53 AM
From: Paul Shread	Read Replies (3) \| Respond to of 52237

>>Looks to me like that day in early Oct 1931 was the beginning of a 4-5 wk rally that took the Dow up a total of about 30% in a 5 wave sequence.<< Good info, Iso, but I don't think we have a chance for a sustained rally here. JMHO... Nasdaq hasn't come close to breaking its downtrend, which I've got at about 1840 or so today. (I'm using the line with the two Nortel-related breakout failures, both of which occurred on a line with the late January top.) And as Paul K. (Trading Machine) pointed out yesterday, the OEX closed right at its main downtrend line. It was a set-up for failure today. cache.wsrn.com cache.wsrn.com On the other hand, from Briefing.com: 08:50 ET: [BRIEFING.COM] This report strongly makes the case for an intermeeting ease -- could see a move as early as next week. Unemployment rate rose a tenth to 4.3% which was expected, and hourly earnings were higher than expected at 0.4%, but this is not a time when the Fed will worry about wage inflation -- that's a backward-looking indicator. Briefing.com believes this report will change the dynamics of the economic conversation -- there will be less talk of the economy holding up and the Fed being gradual and more talk of recession and the need for aggressive Fed easing.