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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Sarmad Y. Hermiz who wrote (14112)	3/19/2004 10:05:17 PM
From: The Ox	Respond to of 95743

On the daily chart the SOX closed right above the 200 day simple moving avg: stockcharts.com[w,a]dahannay[df][pb200!b50!f][iUb14!Ub5]&pref=G Yet on the weekly chart, the 200 week MA is still 20 pts below at 442: stockcharts.com[w,a]wahannay[df][pb200!b50!f][iUb14!Ub5]&pref=G I've posted this next chart a few times and I still like it's perspective. Note the top red trendline has taken over from the previous upward red trendline. I still believe the lower light blue pitchfork is the dominant formation for the longer haul (next year or more-depending on the length of this cycle). Now that we have come back to the upper tine, there should be a bit more support but it might need to drop back into the heart of the fork before resuming the up trend. Notice how the middle tine of the light blue fork is almost intersecting the dark blue lower tine... yet this target is another 80 points lower on the SOX from here. I think we will see the rebound back up no later then the 425 area, which could coincide with April's earnings releases. It is also the 50% fib level. Just a few things to ponder this weekend. stockcharts.com[h,a]wahannay[df][pf][iub14!ub5!lh14,3!la9,21,6!ld7!ld21][J12340584,Y]&pref=G