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

To: donald sew who wrote (50192)	8/18/1998 9:50:00 PM
From: MonsieurGonzo	Read Replies (2) \| Respond to of 58727

Donald; RE:" DJIA-30 " The DOW-30 is so difficult for me to try to read, Donald - only 1/3 of the components are above the S&P-500's ~15% YTD standard... MCD 37% consumer/retail KO 27% EK 44% WMT 63 % JNJ 21% drugz MRK 41% AXP 27% financial; brokers/banks/insurance TRV 22% IBM 24% tech GE 28% conglomerate bellwethers UTX 22% ...and the OEX-100 has a much more stable chart. Using ~8365 as the perceived bottom of this recent correction from ~9337 top, the fibonacci lines on my chart are ~8590, ~8735, and then a major resistance at the 8850-8900 region, which is also the 50d EMA area on my chart. Today's bullish white candlestick broke the DownTrend Line (and virtually parallel 14d EMA) which has persisted since the evening star on 20-JULY, so I suppose it could pull-back towards ~8590; (and still be bullish) though piercing ~8520 would be a kind of "pivot" to me, indicating further devaluation towards re-testing supports around 8320-8365, and ultimately, far target 8100 +/-50. The stochastics are bullish, if a bit exuberant, especially in most TechStock sectors. Weekly Stochastics show over-sold and, long-term buying opportunity. Options expire Friday. Have you got a reading on the DAX-30, Donald ? Thanks. -Steve