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

To: exp who wrote (12045)	10/23/2002 8:42:54 PM
From: ajtj99	Respond to of 30712

exp, the weekly charts are looking pretty near term bullish, and the monthly charts are also turning up. I could see an up bias over the next month or so before another leg down to do a full re-test of the 1108 bottom. The rotation from bonds into stocks last year was good for 2-months of up. The ramp from July-August this year was a month long, and cycles would pin a turn of some sort around the end of November. 50% re-trace of the 1759 top is about 1426. .382 is 1356. One thing I'm looking at is the .764 re-trace we've done on most ramps. 2328-2098 was .764. 1426-1350 is .764 off the 1108 lows. Of course, you could get a scary .764 re-trace of the 2098 top at around 1850, which would be about 700 points up and a brother leg to the Sept-January ramp. That's highly unlikely, as it would kill the bear. The falling resistance line off the January highs is around 1480 or so now, so that should be a line in the sand. That and the 1426 top are the upper limits of any rise in late November if we get one, IMO.