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

To: Bill Cotter who wrote (36474)	3/17/2002 9:31:46 PM
From: Return to Sender	Respond to of 68065

Bill here is some additional input on the S&P 500 from StockCharts.com: LONG-TERM CHARTS LOOK POSITIVE S&P WEEKLY LOOKS POSITIVE... In our view, the weekly S&P 500 chart looks positive. Prices have already broken the major down trendline that defined the previous bear market. Prices are also back over the 40-week (200-day average) for the first time in eighteen months. The 14-week RSI line (along the top) has risen over fifty -- reflecting stronger market momentum. And, the weekly MACD lines have already moved up to the highest levels in over a year. We view the MACD as a leading market indicator. The green horizontal lines are Fibonacci retracement lines. Measured from the old high to the recent low, the S&P has recovered 38% of its previous downtrend. That's usually a minimum expectation. A 50% retracment would carry toward the 1240 level. A 62% retracement would move all the way up to highs of last spring near 1300. Finally, the January/February correction gave back about half of the previous upleg. That leaves a pattern of rising bottoms. A breakout through the January high would initiate a pattern of rising peaks as well. We think that's the way the market is headed. stockcharts.com[m,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G I realize the chart does not match the discussion. I have a membership at the site but I cannot provide you with the same chart. RtS