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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist -- Ignore unavailable to you. Want to Upgrade?

To: DlphcOracl who wrote (2889)	7/24/2001 4:42:02 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 5893

Hi DO the NAZ is the weakest link here...it won;t break thru 2100 near term...and so far we are shorting all rallies till the NAZ can print 2150 a double top buy signal...however even if it does that..2200 is very hard/heavy resistance... and..any break of 1900 takes it to my downside target of 1800 quickly... more importantly..the NQ's rushed thru that 1620 area today setting up another hammer??? and a test of the bottom... if we can get a decent rally here...even toward the 20 ema on the daily candle chart at 1725..that would be a positive for the markets in general... the SOX is key too..any break down of 540 is bad...however having said that i am long selected semis, and will add more if we bounce for a trade... i doubt we'll see 2300 any time soon...