NAVIGATION:
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"The Sunny Side of the Street" |
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TUESDAY NIGHT--January 7, 2003 |
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...tomorrow's another day. In Figure 2 you can see
the Attractor acting as resistance all across the daily chart of the QQQs.
For 6 months the resistance has held. I think it is time now to
break through to the upside. It's hard to tell how long it will
take, but it seems to be the time.
In Figure 3 you can see the same entity on a longer time scale, showing "what we're up against." I am encouraged because of the shape the attack is taking: not sudden and corrective, but nevertheless aggressive. The Dow wasn't really up against resistance the way the QQQs were, but it tried hard to break yesterday's high and just spent the day chopping sideways. See Figures 1 and 4. The significant thing the Dow did do today was stop its downdrift at the Attractor at 8720. That's a nice show of strength, as far as I'm concerned. I issued several intraday alerts today, and from one of them got an email feedback saying "Wow. Sure is timely advice." While I don't consider it advice, I'm simply educating, it's nice to get the feedback. Thanks. In all likelihood tomorrow will be another attempt to push upward over the highs of the past 2 days. Any good news would do. So, as always, stay nimble, humble and take small losses and big wins. |
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Weekly Stock Picks for the week beginning 1/5/2003:
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