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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Jeff who wrote (4975)	8/8/2002 9:34:27 PM
From: Rich1	Read Replies (1) \| Respond to of 30712

Jeff still remember what you said about them not making it easy for the shorts...<gg>

To: Jeff who wrote (4975)	8/9/2002 6:46:10 AM
From: Justa Werkenstiff	Respond to of 30712

Jeff: Excellent analysis. Here is something to consider: Re: "NDX was first to fall on june 12th....nasdaq followed on june 26th....spx on july 3rd....and dow on july 19.... so now we have NDX new low august 5th......" You might as well add the Sox to a new low on August 5th. Let's take a look at that retrace: stockcharts.com[w,a]wallyyay[d2][pa420!a380!a200!a300!a250!a280][vc60][iub14!li14,3!lp14,3,3][J5407932,Y]&pref=G Note the big blue long term channel and the recent breach and its longer term implications. This thing has not even tested its 1998 lows. I don't know how this sets up on your calendar. Maybe you have some insight. But note the green downtrend line and the scheduled touch at the 250 area of support which should signal a bounce. Maybe we get this on the next trip to 1200. A more bearish reading would be to say that this thing goes straight down to 183 in the fashion that it came off the 1998 lows. I don't favor that though.

To: Jeff who wrote (4975)	8/9/2002 7:25:49 AM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 30712

Note that during the same time period of the Nasdaq triple bottom, the NDX should make lower lows (going on the opposite direction) before the bigger rally. So on the next trip down, we may again make minor lower lows. I think the fact that it did make lower this week adds credence to the retrace theory. stockcharts.com[h,a]daclynay[d19970224,19970524][pc9!c13!c20!d20,2!a910!a869!f][iLa12,26,9!Lh5,5!Li10,10!Lp14,3,3!Ll14]&pref=G Yes, the numbers are different as the first lows in 2002 were 869 and 856 and they were different working backwards in 1997, but the pattern is the same. All this supports Justa's "Buy Any New Low" thinking here going forward on the NDX.