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

To: Return to Sender who wrote (34434)	9/24/2001 1:12:51 PM
From: shasta23	Respond to of 69974

Don't know about the rally. In April i was waiting for a pullback after the initial bounce and it never came. I think it depends if all the selling created a vacuum of sellers above.We are hanging at resistance actually right now...so if we break 1500 next stop is 1600. Other scenario is pullback maybe to 1460 and then rally. If 1460 can't hold all bets are off.For Dow a pullback to maybe 8450 would be good. Interestingly enough the Sox hasn't really kicked in full gear imho with AMAT,KLAC,NVLS up less than a buck. As an index SOX has an island reversal on the 60min chart... Just some ramblings.Personally i would prefer some consolidation here and would be happy if tomorrow would be flat to slightly down and then continued rally. It would be healthier. Still in DOX,VRTS,BRCD and despite the rally still a little under water...so a continued rally would be welcomed. Stefan