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

To: Zeev Hed who wrote (21129)	12/22/2002 10:56:54 PM
From: ajtj99	Read Replies (1) \| Respond to of 30712

Zeev, I guess I was looking for a bit more stickiness than just a prior pivot high in October. I believe 1344 was the Oct. 1998 low, and maybe that number has a bit of significance still. However, I've found a similar number at 1088 NDX (Sept. 2001 low) has not been a price stopper recently. I can't recall when we've stopped prior to a lower BB piercing without hitting a widely recognized MA, trendline, or Fib number. However, since 1347 was also the 9-11 high, maybe that makes it a bit more significant than other pivot highs <G>. Zeev, speaking of prior patterns, you can't possibly be too bullish with a close under the 50SMA on the COMP and the 20EMA on the weekly. Other than a technical bounce of possibly 50-75 points off the 1346 low, I can't see how that can be seen in a positive light. You're also flying against the wind of the BP charts. We're oversold near term here, but the weekly charts are still heading down. Not good. As for those who are looking at the 1990-1991 market pattern in the war, I think we're in a much different situation here valuation wise and war-wise. We're on the offensive here, not the defensive.