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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (34043)	9/5/2001 12:13:15 PM
From: Johnny Canuck	Respond to of 69762

[madtrader] Wed Sep 5, 8:51am PDT $NDX.X $SOX.X Perhaps an early sign of life. As trading volume dries, one get the sense that institutional money is just waiting for a direction. It doesn't take a chartist to see the retest of April lows coming, yet it seems no one wants to be the hero and jump in on the long side. I am trying to find some early clues here. NDX is trying to do a little "hook" to the upside on my intraday MACD chart here. If it does cross over to the upside, we will then have a non-confirm for this morning's low. A decent rally could come our way. I want to stress that this is only possible if and when it does take place. none. [madtrader] Wed Sep 5, 6:58am PDT INTC $SOX.X INTC to me was the "real" reason this market went down yesterday. On Friday, Jon Joseph of Smith Barney was pounding the table for this name suggesting the sharp price cuts will indeed drive demand, and the company will not guide down. Yet, few were around to hear this. Instead, Dan Niles of Lehman said exactly the opposite and put a ceiling on the stock. Suggesting the company will guide down tomorrow. The bottom line is, 27 is where the stock needs to hold. Yet, it has been tested 5 out of the last 10 trading days. A solid break there will certainly help SOX break the 520 support. At this point, the chance is high. none. Register for our newsletter [madtrader] Tue Sep 4, 6:13pm PDT K KFT PBG FO CLX WWY BLL Another group that is doing just fine. The consumer goods and food related defensive names are making new highs as institutions are using these names as hiding places. The big rally failure led by tech names are making traders queasy. Looks like April lows will have to be retested if not broken outright. Of the names above, FO and PBG looks great for another leg up. none. [madtrader] Tue Sep 4, 6:10pm PDT BCC WY GP MEA W File this under what's working right now. Paper stocks are hot. W and MEA have just hit new highs. BCC, WY, and GP are looking to follow. From the actions of these cyclical stocks, we get a sense there will be a turn in the economy, just not for the techs.