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

To: Chris who wrote (23271)	11/3/2001 9:34:49 AM
From: donald sew	Read Replies (1) \| Respond to of 52237

NOV 3 INDEX UPDATE ------------------------- Short-term technical readings: DOW - midrange SPX - midrange OEX - midrange NAZ - midrange NDX - midrange VIX - midrange NAZ NET NEW HIGHs-LOWs = NEGATIVE 10 MIDRANGE readings again(flip of a coin region), and right before the FOMC meeting on TUE. So if the news is interpreted as being very good, then a bit more upside, and if it aint too good then some selling. There really isnt much to say in this update, basicly no change to the previous/recent updates. However, do want to again express the issue of HEAD % SHOULDERS PATTERNs, since these patterns are starting to form on all of the major indices. Previously I mentioned the possible H&S on the NAZ/NDX, but now it may also be appearing on the DOW/SPX/OEX. Again, not that I put alot of faith in H&S PATTERNs, since I have seen quite a few fail, I do want to mention it again since it may be forming on all of the major indices. The simplest way to have the H&S invalidated is for the indices to set local higher highs, but until that happens, and I aint predicting, Im not sure I would want to get overly bullish right now. Market internals again are not supporting a strong rally, not to say that its overly negative either. Its basicly BLAH, which is in line with mid-term readings(BLAH again) in my short-term technicals right before important announcements(FOMC). BLAH/BLAH/BLAH!!