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

To: Vitas who wrote (35624)	5/7/2002 7:07:17 PM
From: ajtj99	Respond to of 52237

Vitas, we can't test the Sept lows on the COMP alone. We have to go as one big, happy family with the SPX and DOw, IMO. That's why we have a low here on the COMP that is starting to get the SPX and Dow to creep down from their lofty levels. We'll get follow through on the Dow and SPX over the next several weeks, IMO. The breach of 1050 SPX needs to be resolved, and the resolution lies closer to 998 than 1050.

To: Vitas who wrote (35624)	5/7/2002 7:23:49 PM
From: TechTrader42	Read Replies (1) \| Respond to of 52237

I don't know which to hold out for, Vitas. It's all speculation. I don't think history repeats itself all that precisely in the market, so past data wouldn't offer much in the way of clues. Interestingly enough, the long-term Naz CI was still trending down today. How it'll look at the close tomorrow I don't know. I'm looking at what aj is looking at -- the failure of the SPX at support -- and wondering how that'll affect the Naz. And I'm wondering whether the LT Naz CI will hit 0. At the very least, I'd like to see the ST S&P CI go back to 0. The recent low was 26 yesterday. That's oversold, but it isn't a panic by any means. The Naz reversal at 1560 would be more persuasive if the S&P had found support, too. But maybe slippery reports are all the Naz wanted. Cisco didn't provide bottom-line projections. Or maybe the three identical crows really was saying something. Incidentally, look at a chart of the VXN. It's hitting the 200 SMA from below (a resistance level), and is a persuasive reversal signal (meaning the Naz could reverse to the upside). The VIX, on the other hand, might have to go higher (moving inversely to the SPX).