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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Jordan who wrote (12842)	2/26/2002 8:52:18 PM
From: Susan G	Read Replies (4) \| Respond to of 26752

I like 20, 50 and 200 ...the 20EMA is blue, red is 50EMA and the pink is the 200 MA. I see nothing to be bullish about except for a possible oversold bounce to those EMAs which will be a wall of resistance IMO, as they always are. When the COMPX is over the 20 and 50 I will start to get bullish, but will not be really bullish until I see the COMP over it's 200 MA again (you know, like when it did a few months ago when the new BULL MARKET was proclaimed <VBG>) I will also lean to the bullish side if we get a REAL Rally - on good volume, that lasts more than a day and a half without the next day being a downward slam...nad is confirmed within 5 days with a confirmation rally on good volume. I don't see a technical breakout anywhere on the Nas, just short squeezes because short interest is so high. Which will probably cause another good squeeze soon. But none of these feel like real rallies to me... The DOW yes, some consider that a breakout at 10100, and it's healthier, but it's due to extreme rotation which is a warning to me. And it has HUGE resistance at 10300. For trading, yes there are bullish opportunities for longs, but I wouldn't invest or even swing trade in this market yet! You get two points one day and the next lose four. It's deadly out there...with this sentiment brought on by the accounting problems especially. And the obvious distribution and the insider selling that has been going on since the Jan top leaves me bearish still...