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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth R Miller who wrote (15909)	9/26/1998 12:34:00 PM
From: Chris	Read Replies (2) \| Respond to of 42787

hi buddy, i prefer to look at the NDX (thanks to sonki's suggestion), but let's look at NAZ.. naz is hitting 200 day ema resistance. good close on friday. on top of that, we have STRONG resistance at 1761 (rough estimate) one note of caution: there are 2 lines to look at: TRENDLINE #1: (broken!) connect lows of 4/24/98, 1/7/98, 8/26/98. if you notice, we are retesting the line from the underside. the question for next week, is are we CROSSING abv that line. I do not think so. Why? Because the other mkt indices are also touching major resistance points. that tells me that we have another downmove coming up. In addition DOW transports are "hinting on friday" of another downmove. This could be the WAVE 5 DOWN MOVE that ADvanced get is telling me. TRENDLINE #2 (not broken) connect lows of 7/18/98, 4/24/98, 9/1/98 What does that show? Looking even longerterm vs TRENDLINE #1, it seems that any WAVE 5 down move will use that TRENDLINE for support. ================= VERY important stuff in this post.. Right now im fearing the WAVE 5 down move to occur AFTER the FOMC meeting on tuesday. I will in 100% cash by tuesday.