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

To: Chris who wrote (6720)	5/2/2001 7:24:50 AM
From: donald sew	Respond to of 52237

MAY 2 INDEX UPDATE --------------------------- Short-term technical readings: DOW - borderline CLASS 1 SELL SPX - borderline CLASS 1 SELL OEX - borderline CLASS 1 SELL NAZ - OVERBOUGHT REGION NDX - OVERBOUGHT REGION VIX - OVERSOLD(inverse to market) With borderline CLASS 1 SELL signal today could be the end of the window or could be another day for the SPX/OEX/DOW. As for the NAZ/NDX there is still 1-2 more upside days before I would get CLASS 1's in them. The NAZ/NDX are nearing a short-term top, and for the mid-term Im still bullish in light of the improved NAZ NET NEW HIGHs/LOWs and the strong move in the RUT, both implying that the rally in the NAZ has broadened. Therefore, I feel that the forthcoming short-term pullback may only be normal/small in size. It is very hard to predict, but I suspect that there is still a possibility that in light of the strong run up in the DOW, we may see some sector rotation into the NAZ from the DOW. To what extent or when, I dont know but I just wont ignore that possibility which could push the NAZ/NDX higher than most expect.