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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (45998)	6/16/1998 2:28:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ----------------------- Been busy with personal matters and with dumb computer problems. SHORT-TERM ANALYSIS ------------------- Per the short-term technicals the overall market is a CLASS 1 BUY to obtain at the low today wherever that is. the market should still pop up some but it is extremely unlikely that we will get anywhere near the highs for this specific short-term cycle. As for the length of this upcycle feel it should last 2-4 days(includes today if the market ends up), so the top should arrive THU/FRI. As for the targets for this short-term upcycle, here are the next important resistance lines and the market should be able to reach and test these levels: OEX * 535-537 SPX * 1099-1104 DOW * 8820-8835 NAZ * 1782 (not comfortable with this target) Todays technical underpinnings, so far, have improved over the previous days: 1) ADVANCE/DECLINE is positive 2) NEW HIGH/NEW LOW RATIO is improving although NEW LO > than NEW HI 3) UP VOLUME greater than DOWN VOLUME Also noticed some positive divergences with the NAZ and SPX as compared to the DOW. In light of the technical signals today feel that we are at the short-term bottom. I also checked the Asian markets and the majority of them are CLASS BUYS and should pop up very soon, within days. MID/LONGER-TERM ANALYSIS --------------------------- So far am still sticking to my amended trading range of 8600-9100; however it we broke the 8600 support intraday which is not a good signal. It needs further confirmation but the breaking of 8600 intraday is a technical hint that we could be going lower. Seeya