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

To: Chris who wrote (7651)	5/20/2001 12:17:35 AM
From: donald sew	Read Replies (4) \| Respond to of 52237

MAY 19 INDEX UPDATE ------------------------------ Although the market is giving the appearance of being quite bullish I am now starting to turn mid-term bearish on the DOW. As for the NAZ/NDX, right now Im not sure since I cannot ignore the possibility of SECTOR ROTATION from the DOW into the NAZ, so I will be neutral on the NAZ/NDX for the time being. So if the DOW does pullback significantly, will the NAZ/NDX follow the DOW or will we see SECTOR ROTATION from the DOW into the NAZ/NDX - dont know yet. I believe that we are nearing a mid-term top on the DOW, whether it occurs now or during the 1-2 week of JUNE, so I feel there could be a little more upside in the DOW, just not alot. As for the size of the pullback, I feel that at least a FIB 38% retracement should occur. Using FRI's figure a FIB 38% retracement would be about 850 DOW points. The market is approaching the 9-MONTH CYCLE LOW which should occur in early JULY, and we are now in the weaker 6-month period of the year.