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

To: nsumir81 who wrote (17543)	11/28/2002 11:02:21 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 30712

Nsumir: Re: "Justa-note the lag between Taiwan and SOX..the index that leads to the downside is then followed by the other with a lag. Plot the same chart for 2 years (from Jan 01) and you might see that sometimes the SOX has flattened or started to move down while Taiwan has continued to move up. So this time, we might just be seeing the opposite version of the lag. " Well, it help that we were in a bear market then as that trend reasserts itself eventually whichever index leads. My point is that the two correlate and that there is a divergence now in that correlation. Assuming that correlation still exists -- which one must assume it does --then divergence will correct somehow. Taiwan has big problems. Again, it broke its bearish wedge with three black imperfect crows off the top. Those crows were retraced halfway up which is to be expected and then then a downtrend line established itself even in the midst of the strong double big white candle rally on the Sox and its afterburners. In Jeff terms, Taiwan is doing a fast and slow d-blow and got a facial on its antivenom full attempt. Needs a close below 4570 for further confirmation. The sox has had a nice fibo retrace off the lows but is at heavy resistance in this area after doing a full sto blow which looks to be flatlining at peak levels.