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

To: AllansAlias who wrote (6523)	4/30/2001 9:40:56 AM
From: donald sew	Respond to of 52237

APRIL 30 INDEX UPDATE --------------------------------- Short-term technical readings: DOW - borderline CLASS 1 SELL SPX - CLASS 2 SELL OEX - CLASS 2 SELL NAZ - LOWER MIDRANGE NDX - LOWER MIDRANGE Per my short-term technicals the NAZ/NDX are diverging again from the DOW/SPX. Although the DOW/SPX/OEX may have limited upside and may become CLASS 1 SELL signals as early as today, the NAZ/NDX has significant upside potential room. The question is if the DOW/SPX start to sell off will they pull the NAZ/NDX down or will we get sector rotation where some money leaves the DOW/SPX and heads into the NAZ/NDX. Here's a significant positive for the NAZ/NDX. The RUT has a "3-WHITE SOLDIERS" on both the WEEKLY and DAILY charts- that is significant. I realise that some feel that the RUT has little influence on the NAZ/NDX, but I feel that this could help the NAZ/NDX continue to move higher and even be enough to support a breakout. Along with the strength in the RUT the NAZ NET NEW HIGHs-LOWs continue to improve, which implies that this recent rally is broadening. My longer-term view has not change and still remains bearish, but this mid-term rally could last longer than some expect. Per my personal mutual fund account I am now net long with my ratio of longs to shorts of 2:1 and about 75% cash.