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

To: Monty Lenard who wrote (35387)	5/3/2002 6:12:57 PM
From: TechTrader42	Respond to of 52237

I've been watching the composite for support levels, instead of the Q's. (The Q's don't correlate with the comp in past data, compared to current data, as you may have noticed.) Now that the 10/10 gap has been filled, I'd like to see a retest of the congestion in the mid-1500s (1558?). But maybe it won't occur. The short-term sentiment indicator for the Naz is at 9. That means it could go lower. But it hit 0 this past Monday, so it could turn at any time. The longer-term sentiment reading is 42, and that leaves room to the downside, since it's been trending steadily down. They're not going to hand the short-term bottom to traders on a platter. I'll miss it, no doubt. It's hard to play, because of all the whipsaws. I still think the market is overvalued, and any missed opportunities in the short term will be presented again before long. The dipsters will rush in and get dipped once again. And the shorters will rush in and get stopped out in a persuasive (but short-lived) rally.