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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01 -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (12311)	4/26/2003 8:13:53 PM
From: James Strauss	Read Replies (1) \| Respond to of 13094

SPX Still Within The Bear Channel... ///////////////////////////////////////////////////////////////// A look at the SPX price peaks in December, February, and April shows a declining pattern... stockcharts.com[m,a]dacl... While there were short term upswings to be profited from, the intermediate term pattern is still on a downslope... Until the 962 area is broken all upswings will be in the context of Bear Market Rallies... They can be very profitable as long as an exit strategy gets us out of the long side with resistance failures... In this instance the short term resistance was the 920 area... A failure there along with lopsided decliners overpowering advancers suggests that we will see a short term correction... My numbers point to 862 support with 804 as intermediate term trendline support; a good place to bet the farm on the long side... Jim