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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: UnBelievable who wrote (5721)	6/25/2001 12:31:17 AM
From: UnBelievable	Respond to of 209892

Security Trader - Daily Commentary Sunday June 24, 2001 The downtrend in the major indices is still in place. The supports broken by these indices last week is now resistance. Most indices attempted to break thru the resistance on Friday but was unable to do so, therefore, our downtrend is still in place. Most charts show rallies back to the resistance levels mentioned above and our goal will be to re-join the downtrend when the market shows its next sign of weakness. With this in mind, we are not posting many NEW setups tonight. Many of the stocks we shorted last week will be ones we will likely re-post Monday evening since they are all still in downtrends. (DIGL, EXTR, RFMD, ONIS, IBM, AOL, NVDA, MRCY) along with any NEW ones we come up with. The heads up this week is the the Federal reserve meets on Wednesday and that will likely keep trading volume on the light side, but unlikely that it affects the direction of the market since its very unlikey he pulls a rabbit out of the hat on this meeting. Check out the ^TYX chart at the bottom of the daily drop down menu...its the Bond Yield chart, always a good one to watch. Its a rising wedge roll-over to a head & shoulder breakdown...in laymans terms MONEY is moving back to bonds...Yield down = prices up ($$ going into bonds). VIX & VXN - going RED again here....see those indicators in the daily drop down menu if you are unfamiliar with them.