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

To: donald sew who wrote (53469)	9/21/1998 8:32:00 PM
From: MonsieurGonzo	Read Replies (2) \| Respond to of 58727

Don; RE:" BKX.X - Banking Index " >The BKX is also smack in the middle on my technicals, and you know what that means. The BKX rebounded off its lows but still closed negative. You be spinnin' it now, amigo -- closed down -1.55 and t'was a 25 index point recovery from day's low (!) yeah, it's a gap-down hammer, uh - would you say "morning star" tomorrow (^_^) ...closed a window (gap, folks) between last Monday & previous Friday, too. I mean - it's bullish, baby - target is what, ~735 ? Maybe it's the volume or something that's throwing off the guitar - today was a holiday, of sorts ? Sure looks like the beginning of the fourth "wave" and test of the intermediate DownTrend Line, Don. Right now, I got a trendLine (drawn from highs) at DOW ~8170 with resistance at familiar ~8100 level (trend drawn from closing prices). NF.X - Financials Index was a doji; IUX.X - Insurance Index a small-head hammer; and, XBD.X - Broker/Dealer the weakes sub-sector of NF.X, being a red-head hammer -or- hanging man dilemma, awaiting confirmation. The other three "legs", RLX.X - Retail, DRG.X - Drugz, and MSH.X - TechStox all looking like hammers, awaiting confirmation tomorrow. Also interesting is the gap-down hammer on TYX.X - Treasury Index (indicating interest rates should go back up, bond prices down) and "hanging man" doji indicating (indecision) a likely reversal of the UTIL - Utilities Index. -Steve