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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (61498)	12/14/2002 9:47:04 PM
From: Moominoid	Read Replies (2) \| Respond to of 94695

I guess my model is showing a lot of flexibility up or down now while a few days back support was hit on the NDX now that support isn't there. The idea of support and resistance in this approach is continually moving - more like BBs than the traditional support and resistance. Everything else looks bearish and the trend is clearly down so I am assuming it means a crash is possible. A three day 10-20% rally seems rather unlikely but could be accomodated before hitting the resistance. I've cited McClellan and a whole bunch of bad candlestick patterns etc. A moderate move down in stocks I follow would fall through the support. Case in point is NCP.AX (NWS is the ADR). It should open down I assume on Sunday evening US time which would put it below the key support line I am eyeing. My autoregressive indicator shows it has as little support now as NDX (the two track quite well). rpi.edu HPQ - if it gets below $18 which has been good support I'd expect a rapid further fall. This is the runaway reaction I am looking at - a small move down sparking a panic sell as all those dudes are so bullish still. David