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

To: Paul Shread who wrote (9519)	6/19/2001 6:12:06 PM
From: donald sew	Read Replies (5) \| Respond to of 52237

JUNE 19 INDEX UPDATE ---------------------------- Short-term technical readings: DOW - oversold region SPX - oversold region OEX - lower midrange NAZ - pending CLASS 1 BUY signal NDX - pending CLASS 1 BUY signal USD - overbought region VIX - midrange Per my short-term technicals the overall market is in the oversold region. The DOW fulfilled the minimum response requirement of its CLASS 1 BUY yesterday, and the SPX and OEX fullfilled it today on a intraday basis. Its obvious that the rallys so far have been weak. Yesterday the NAZ/NDX gave CLASS 1 BUY signals on a closing basis and today was the buy-in window. The NAZ/NDX opened up nicely only to give up the majority of its intraday's gains. On the negative side the NAZ/NDX closed near the lows which is the first hint of a possible negated CLASS 1 BUY signal, which needs further confirmation tomorrow. On a positive side todays candlestic pattern was actually moderately bullish - I know thats hard to believe. I was taught that basicly when there are 2 BLACK DAYs in a row where the closing prices are about the same, thats a hint of a short-term reversal, but only has moderate reliability. Its something like the "MATCHING LOW" pattern. My position previously was that there will be a small rally, and I am still holding to that position, but again I did say SMALL. Not that I put alot into my price targets, but a possibility is the GAP/NECKLINE on the NDX around 1790, if it gets that high in light of todays weak performance. On the other hand the possibility of a NEGATED CLASS 1 signals still exists. In reviewing the charts on the VIX, I forgot to mention that it formed a HIGHER HIGH 3-DAYs ago which is a sign that the downtrend in the VIX may be ending. If the trend in the VIX is starting to reverse, that would be bearish for the market - of course that needs further confirmation. As mentioned often, it is common that my short-term technicals end up in the midrange near/right before the FOMC meeting. So one possibility is that we get a feeble rally which brings my short-term technicals to the midrange sometime this week/early next week. This also implies that there shouldnt be alot of selling, just oscillations with maybe a slight incline. Previously I mentioned that I should have a 55-DAY CYCLE low on JUN 22, and frankly heck if I know how that will fit in.