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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (5507)	7/12/2001 5:52:10 PM
From: Sully-	Respond to of 208838

From: donald sew Thursday, Jul 12, 2001 5:05 PM JULY 12 INDEX UPDATE --------------------------- Short-term technical readings: DOW - upper midrange SPX - midrange OEX - midrange NAZ - midrange NDX - midrange VIX - midrange The minimum requirements of the recent CLASS 1 BUY signals have been fulfilled. Per my short-term technicals the overall market is in the midrange. If the market was to continue up I could get a CLASS 1 SELL signal next MON-TUE. I did not spot any technical negatives today(market internals), so this short-term rally could see follow-thru. Whether its short covering or some other reason, I dont know but will just say things look positive, at least for now. If tomorrow is flat, the market could be setting up for a 3-DAY PATTERN, so I wouldnt get immediately negative if there is no follow-thru/flatness tomorrow. The KEY is whether this short-term rally can set a HIGHER HIGH. For the NDX, the previous peak was at 1865. I normally try to avoid predicting, and try to read the market as efficiently as possible. Just prior to yesterday there were alot of technical negatives, but with today's performance there has been enough/significant improvements in the market/market internals. So I will not ignore the possibility that this could become a significant rally. If the market/market internals continue to improve, thats positive for the market. Since my short-term technicals are in the midrange, I decided to play an even hedge position between the UOPIX/USPIX, with 81% cash(mutual fund account). In my trading account, still mainly all cash. Ö¿Ö