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

To: Paul Shread who wrote (33970)	4/9/2002 5:35:07 PM
From: StockOperator	Respond to of 52237

Paul, Thanks for the links. Ahhh, as far as going long that is a gutsy move. The last two days worth of trading is telling me continuation. I think the SPX could go as low as 1100 before we run into some resistance. If that happens the key will be to watch the 1106 area (last months low) to see if it's taken out. Either way the market better rally soon there are a whole bunch of stocks and indices ready to break into the abyss if more stocks do like ORCL today by break into monthly lows. Will be interesting to watch.

To: Paul Shread who wrote (33970)	4/9/2002 5:35:20 PM
From: Challo Jeregy	Read Replies (1) \| Respond to of 52237

Paul, can you find, on Litwick, the candlestick formation called the Thrusting Bearish? Yesterday, Hahn pointed out that formation on the SPX. I saw the same one on many stocks at yesterday's close. It was low reliability, but it looks like it was correct.

To: Paul Shread who wrote (33970)	4/9/2002 6:47:42 PM
From: KymarFye	Respond to of 52237

"In an uptrend the market gaps open, but loses ground to fall below the midpoint of the previous day" what uptrend? Sticks aside, the dominant chart characteristic in the major indices are breaks of the hardly formed six-month uptrend lines from the Sept low - snapbacks yesterday on COMPX, NDX, and DJI, turned right back down today, test ongoing on SPX as it peals away from its 50 DMA. NDX managed its lowest close SINCE October... By some standards, that's already a new lower low, though confirmation from the other indices still needed. BTK is testing the lower boundary of its two-year triangle in danger, with a new low for the year as of today. Even the mighty SOX broke its uptrend. NYSE may look better - until you scale out a bit longer term, and note the failure at critical resistance established in 01 - rather Nikkei-like. In fact, NYSE is trading almost exactly where it closed exactly a year ago: ca. 590. Even the vaunted RUT's in danger of doing major damage to itself, doji'd today a few ticks below the January high. If you're looking for an even broader view, not much help from the Value Line Arithmetic or Geometric, with the former looking rather broken-down after brief flirtation with an all-time high, the latter looking a lot like the RUT... Cumulative/average market thrust (adv. issues * advancing volume vs. decl. issues * declining volume) looks terrible now from almost every short and longer view vantage point, both NYSE and Nas. Noting broken trendlines, topping patterns, and bad breadth isn't the same as forecasting a crash: Still just a range with looming downside risk. But if Feb lows start ticking off, index by index, probably in conjunction with Middle East and/or Japan and/or Al Qaeda and/or even Afghanistan and/or some other ugliness spiraling into unpredictable infamy... Hmmm... leave it to Wall Street to figure out how to Fall upward and Spring downward... And another thing, why do stocks that are going up "advance," but ones that are going down "decline"? Shouldn't the uppers "rise," or the downers "retreat"?