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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Lachesis Atropos who wrote (39686)	6/6/2003 1:09:11 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69902

It is pretty much a day traders market. You can see the volume and volatility building. It will break one way of the other big time as the pressure builds up. A 20 percent rally from the medium term low on the COMPX is about 1680. A break of that level would draw bulls in to the market in a significant way with a shot at 1800/2000. A failure leaves the market vunerable to a test of the recent lows at 1400. I am pretty much on the side lines for now because I can't sit and watch all day. As Jim pointed out lack of attention can be deadly right now.

To: Lachesis Atropos who wrote (39686)	6/6/2003 1:58:03 AM
From: Johnny Canuck	Respond to of 69902

Tradewinds by Chris Curran June 6, 2003 On Thursday, the major indexes continued to defy gravity, and spent the session backing and filling ahead of Friday's highly anticipated Unemployment Report. Biotechs surged, followed by strength in Homebuilder, Healthcare, and Banking stocks. The NASDAQ Composite extended Wednesday's breakout above the 50% Fib retracement of the index's 2002 decline. The U.S. dollar resumed its woes with a test of last week's lows. A break of this support could open the door for a test of levels not seen since 1998. There are 2 schools of thought going into Friday's report. First, the indexes have consolidated enough ahead of the report that a report with no big negative surprises could lead to higher ground. Or second, the indexes have already seen a nice move up into the report, and we could see a "sell the news" scenario. hardrightedge.com