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

To: Johnny Canuck who wrote (39920)	7/17/2003 2:05:58 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 72023

MoneyStream Breaks Below July 1 Low For the Dow, MoneyStream has now penetrated its July 1 low, rendering the action of the entire month a failure. Today's and yesterday's price declines were on increasing volume. This is also true of the SP-500. We must assume that MoneyStream thinks the price will break below the July 1 low. The short-to-intermediate term outlook remains down. The Nasdaq (COMPQX) is superior to both the Dow and SP-500 in terms of price pattern and MoneyStream pattern. The TSV is in positive territory, but it is nevertheless negatively divergent with the July price rally. Overall, it is a good pattern suffering some loss of momentum. Tech stocks are somewhat mixed with a bias to the upside. On the whole, they have not lost their ability to make their own destiny, despite what the market may try to dictate.-DW