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Below is a chart of the Computer Software index, stocks in this index
are CPWR, BMCS, CA, PMTC, PSFT, CDN, and a few more. A couple of days
ago, the CWX was showing a range contraction ( street smart setup) and
broke to the bottom side. I combined this with a Time and Price setup
along with Fib Time zones. I didn't put everything on the chart,
because it would to difficult to read.
Using the 6/14/99 low of 653.37 and the 7/19/99 high of 844.2. With the
setup I'm using Calander days (CD), the next CIT is Aug 5-6, then Aug
9-10. Also, the Fib time zone of 21 is on Aug 9. I'm going to wait
until Friday Aug 6, before I put my money down. By then I should know
what direction this sector wants to go.
If you look at CPWR and CWR you should see very similiar charts along
with CIT's /Fib Time zones.
Just some insight.
TradeWell,
Joe Frabosilio
Attachment Converted: "c:\eudora\attach\Cwx.gif"
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