To: Chris who wrote (38004 ) 7/16/2002 1:15:37 AM From: Lee Lichterman III Read Replies (1) | Respond to of 52237 Thanks, the thread is much safer now. Here is what I just postd on our thread for what it is worth...... Just finished the charts but this is interesting and I am ticked I did not have the time this weekend to really look and notice this stuff over the weekend. There is a massive rotation going on that I don't know for sure if it is a healthy tech leading the rest of the market out of oblivion or an unhealthy irrational "tech is immune" thing by the dipsters. Let me try to explain and show you what I mean......... TNX hit my lower tine but the candle isn't a reversal candle and it just touched it. I like it to be pierced and a hammer with the body sitting on the line or else close on the low sitting on the tine and then have tweezer bottom with the next day launching up. Brief touches on the line like today usually don't signal reversals. This is an iffy thing so no big deal. On the other hand, My DOW chart did just that as did MSFT, the SPX etc. A perfect hammer on the lower tine. Mixed messages? -ggg- marketswing.com marketswing.com marketswing.com Some other things don't quite line up. CSCO looks more like a bearish hanging man formation than a bullish hammer or anything that could be viewed as bullish. marketswing.com I am also already getting some bearish divergences in a few of my indicators that though they shouldn't have any short term effect, imply the next wave down in probably next week will be hard. All in all, it doesnt look like a for sure reversal as some things don't line up but there are signs this could have been it. I was leaning strongly bearish until i started to answer MrsWolf's post with some observations I had made and suddenly realized, I hadn't been seeing the nose on the front of my face or I couldn't see the forest through the trees or whatever analogy you want to use. I started to post this to her and then my list kept getting longer and longer.......... MrsWolf, Dont forget the telecoms in your list of things that are sneaking up. Note how AWE is quietly sneeking up to the top of it's range. Nothing definite but there are more. CMCSK is also trying to sneek above short term resistance. EMC is registering the first over bought signals I have received on it in a year. It was never strong enough to move that much before. Does anyone realize that MU is up almost 50% from it's low and this after having nothing but bad news and some hype of hoping btter times are ahead? is there any wonder why this is labeled the original POS on the CFZ thread ( POS = Piece of S^*& ) marketswing.com NVDA is up over 30% from it's low? marketswing.com ORCL has been in a steady uptranding channel since early June. It is about the only stock I see where you could have held for 6 weeks and made decent money in tech. marketswing.com QLGC is about to break through it's upper tine of the downward fork if it is up just about at all tomorrow. marketswing.com RFMD , a favorite of Dennis' is up almost 90% in the last couple weeks. marketswing.com Things are getting interesting and it looks like money has been rotating quietly the last few weeks while the DOW got crushed. Can tech lead up? Looks like a little bit.... for now. Am I buying it? No WAY!!!! I am happy where I sit but if I were to trade again short term, I know where I would be focusing...... -ggg- Good Luck, Lee EDIT - For those that don't know since I haven't been posting much on SI, I am supposed to move soon so I am parked in High Yield Stocks until I get moved, settled in and am not trading much short term.