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Dorothy, I hope you aren't right, but you do raise some valid points. Also, I
don't know if you can choose one index to arrive at some conclusion. You pointed
out that you're looking at the NDX because it has more issues involved; well,
how about the NYA or SPX, which both have more issues involved. If you look at
the NYA, the pattern you're referring to isn't that apparant.
Well, we still have 3 /12 hours for my target of +170 on the Dow; however, to
punch through resistance, which was support only a few days ago, it has to be on
heavy volume to assure its validity. You are right on target concerning volume;
the volume is low, and it's a major concern of mine.
Ralph
Dorothy Carter wrote:
> I think we are still in window for peak for end of the counter trend
> rally... Remember DJIA is 30 stocks check out NDX .. I'm not an expert in
> Candle sticks .. someone else may want to respond.. but it made a big spike
> and is in lower section of range which may suggest exhaustion of this short
> cover, end of qtr rebalancing...??. I have lower targets that have not been
> met yet.. and also we went down on big vol and have rallied back on lighter
> vol which in my work is a sell signal not a buy... obviously you have to
> look at each stock separately so guess it depends on what you are buying
> indexes or individual stocks.. personally I'm using any rally to
> short.............Guess we'll see toward close who wants to go home long
> given a weekend . I have gone over all 30 Dow Jones stocks the last 3 days
> and have only found 2-3 that had potentially constructive charts.. and those
> had limited upside potential... so
>
> ----- Original Message -----
> From: "Ralph Volpe" <rjv@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, September 28, 2001 11:39 AM
> Subject: [RT] INDU
>
> > The Dow Industrials are struggling towards my goal today of +170 points.
> > If achieved, the INDU reenters its previous trading pattern. This would
> > add to the probability of higher prices and lessen the chances of
> > further dramatic drops. As this is being written, the Dow needs 10 more
> > points for the day. Wow, what a struggle!
> >
> > Dorothy and others, are there any opinions and forecasts?
> >
> > --
> > Ralph => E-mail => rjv@xxxxxxxxxx
> >
> >
> >
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
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> >
>
>
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--
Ralph => E-mail => rjv@xxxxxxxxxx
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