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

To: Paul Shread who wrote (12609)	7/24/2001 8:54:54 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 52237

We formed a mini spinning top right on the line. I have short term over sold signals almost across the board in tech though DOW stocks show they could go quite a bit lower on average. Of concern however is our indicator is not at buy levels yet so not sure how strong a bounce will be. Kind of a hard thing to explain as the NYSE looks like it could bounce but the DOW/SPX and OEX aren't quite as good looking. How the NYSE can bounce without them is beyond me. I have to keep this short as it is time for me to take the kids to the pool so I am going to be quick. SANM has a bearish wedge forming so I don't expect much bounce there. GE needs to hold 41 on the mid tine or that too is a bad sign. Next NASDAQ support if we head down again tomorrow is at 1882 and NDX around 1528. Again, these are only if the supports we just formed a doji on and are sitting on as of tonight don't hold. We could bounce right out of the gate. GLOBEX futures are positive biased about 2 points. The OSX oil service was repelled as I suspected today. Watch the drop for clues of forward action. VIX peaked over the mid tine which if it doesn't pull back quick would be a bad sign ahead. Too early to say for now. I am selling some puts but not going to get too bullish since I still see bad FA and the charts aren't real pretty here. QLGC wasn't good, HON profits dropped huge and LU is a nightmare. Have to run as I am late. Good Luck, Lee