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

To: Shack who wrote (6181)	7/3/2001 8:10:15 PM
From: UnBelievable	Read Replies (1) \| Respond to of 209892

It Look To Me Like $COMPX Needs to Test Both The Gap From 4/17-4/18 And The September D/T Line The bottom part of that gap cries out to be tested. While the Bulls may claim that the Sept D/T has been test twice both times the line was penetrated. If they do it Thursday or Friday they can probably get them done at the same time. Much longer and - well the D/T line keeps going down. At this point the Bulls would seem to have their work cut out for them. But I guess if enough people are on vacation and they keep the futures cranking nothing is impossible. $COMPX 50 SMA 2143.33 Close 2140.8 $NDX 50 SMA 1848.33 100 SMA 1823.12 Close 1822.16 $INDU 200 SMA 10590 100 SMA 10546 Close 10571 $SOX 200 SMA 641.50 SMA 632.06 Close 639.49 GE 200 SMA 49.17 50 SMA 49.63 13 SMA 49.59 Close 49.51 MSFT 50 SMA 70.02 Close 70.47 (Support Or Resistance?) CSCO 50 SMA 19.20 Close 19.19 IBM 50 SMA 115.25 Close 112.98 MMM 50 SMA 119.02 Close 116.83 Now to be fair there are a few that are above the 50 SMA or between the 50 and the 200. C looks real strong sitting on all three with the averages tending up. I'd be more inclined to bet against up but the option traders were bidding up the price of calls toward the end of the afternoon (a little surprising since the holiday and weekend mean that a lot of premium is going to get burnt) and the adjusted ratio of the price of Puts/Calls has gone down from 1.25 to about 1, factory orders jumped 2.5% in May, and it is time for the summer rally. <gg>