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

To: Logain Ablar who wrote (6181)	4/23/2001 1:35:02 AM
From: donald sew	Read Replies (2) \| Respond to of 52237

APRIL 23 INDEX UPDATE ---------------------------- Short-term technical readings: DOW - overbought region SPX - pending CLASS 1 SELL OEX - pending CLASS 1 SELL NAZ - pending CLASS 1 SELL NDX - pending CLASS 1 SELL On FRIDAY the NAZ/NDX did get intraday CLASS 1 SELL signals and both the NAZ/NDX both closed with DOJIs. DOJIs commonly occur at the end of a rally or selloff and are hints of short-term tops. They are not 100% so they do definitely require confirmation. Tie those DOJIs in with the CLASS 1 SELL signals, it is likely that the NAZ and NDX are at/near a short-term top. Please keep in mind that the CLASS 1 SELL signals were only intraday signals, which are not as reliable as closing signals, so there is a chance, although less likely, of 1-2 more updays before the selling starts(less likely). I rarely talk about fundamentals, but it is surprising to see how quick some are turning bullish and in some cases overly bullish. Unless, Im in MARs, the earnings overall have been weakening. Yes, some have met their expections but also keep in mind that many expectations have been racheted downwards, and in some cases WAY DOWN so it would be easier to beat. Overall, from specificly earnings, there is no clear indication yet of a firm improvement. Like the market, where most were/are trying to nail the top or bottom, is this the bottom in declining earnings?? Personally, I really wont put too much into analysts/company hype, since I prefer real numbers - I realise how trust worthy and honest the analyst/companies are so forgive me for being cynical. Another fundamental issue is simply the P/E's. I do not have the data to support it, but has it ever occurred before where the P/E in a bear market only got back to around average and did not go below the historical average. Im specificly talking about historical average not the MOJO expectations of the NEW ECONOMY. Interesting, havent heard the use of "the NEW ECONOMY" that much recently.