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

To: TechTrader42 who wrote (12347)	7/21/2001 4:59:52 AM
From: Lee Lichterman III	Respond to of 52237

Some random musings and observations......... Not necessarily recomendations as I haven't bumped the daily charts against the weeklies yet but just notes I made on some charts that caught my interest thus far..... WEEKLY CHARTS PG Weekly Gravestone doji and sell signal MRK weekly buy and daily shows it over bought which might give nice entry point, HWP weekly still riding lower fork tine, WMT is weekly mid tine short candidate, BA weekly shows nice bounce from over sold and previous signals have had some carry through, AMAT weekly indicators don't back it up but nice possible hammer bottom on support line, BGEN weekly nice fresh buy signal off of blue long term fork mid tine, Q potential weekly mid tine bounce over sold readings but no signal and ADX reading of 88+ indicating looming trend change, already mentioned Friday AM but OSX hammer bottom off of weekly lower tine, That is it for the weekly charts....... On DAILY CHARTS.... MU stuck in triangle which should break in the next 2 weeks, DOW resistance 10700 then 10900 with support at 10000 8 days after buy signal ADX nearing trend change area and mid term stochastics nearing over bought, NASDAQ 1975 and 1900 support with 2100, 2250 and 2375 resistance with indicators in mid range, Bonds at top tine with corresponding short and mid term stochastic over bought readings --why would bonds drop? Bad news as dollar falls and foreign money leaves or money moving back into stocks?..... ALL major indexes experiencing MACD divergence, SPX and OEX mid range indicators no real clues, XAU short term mid term and Chandes all nearing overbought MACD about to test zero line from under side but ADX is mid range so inconclusive heavy resitance at 60, OSX first hurdle in bounce is this 92 1/2 area so expect a pullback here, QQQ support 38 resistance 43 and 45, VIX reversed down off of mid tine which is bullish for market. NDX/NASDAQ many top techs - Also bullish signs of tightening bollinger bands and price near bottom band ( I tend to believe that price bounces off of one band when tight to propell itself to the other side of the mid band to opposing band as it widens again). SEBL sitting on bottom tine of mini fork with short term over sold signals but ADX not looking good, JEC mid tine bounce but only short term as mid term signals in mid range and falling, WMT approaching year 2000 resistance line at 55 then mid tine of fork at 58 FA wise still as bad as ever but the ability to ignore horrible news unless it was all just expiration related has to make one wonder. Also many of the charts have a slight bullish edge. As I said earlier, I am staying hedged and waiting for it to make up it's mind. Good Luck, Lee