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

To: Jay k. who wrote (35242)	11/24/2001 3:35:50 PM
From: Johnny Canuck	Respond to of 69990

Hi Jay, By my system, the COMPX just negated its sell signal on the daily chart and the weekly chart is still on a buy signal. Intra-day the signal is indeterminate with a slight negative bias, but that is usual given the light volume and lack of institutional traders because of the holiday. Given that statistically the day after a holiday is up, it inidcates more upside is possible. The neutral VIX, VXN and EPC readings give support to this view. The SOX weekly is also still in an uptrend, though the daily stopped short of giving a sell signal. Intra-day the charts is really indeterminate. The COMPX does not reach a new high without the SOX though, so it needs to rally for the COMPX to test the recent high. So watch the SOX. Keep in mind that the CSFB conference Clint posted is the last chance to push the market higher before pre-warning season starts. Once the first round of pre-announcements start it will be hard to push the market higher as trader will start to exit positions to reduce their risk of being blinded sided by a earnings warning.