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re:DOW Theory Sell Signal
Ron Insana reported that John Bollinger's Dow Theory Sell signal will
kick in if the DOW breaks 8600-8630 with the current Dow Transports level.
Yesterday's PC ratio was 0.69, the OEX volume has gone down significantly.
The little I know, and have observed, is that there is a high probability of
a
big upmove after an inside day.
-----Original Message-----
From: khanitha <charlie@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, July 30, 1998 12:06 AM
Subject: Re: Mkt:Oex,SPX, SPu8 Pivot
>looks like a lot of fun on the ride down, i'll buckle up.
>also, look at the transports......i am now hearing hints of "dow theory"
>but MOST AMAZING: most people are NOT buy puts, this may be the surprise
>they forget to plan for, or actually believe you can buy every
>dip..........
>i tried to send an e-mail to everyone this morning but it seems as though
>it vanished into cyber space. anyway, after the first hour, well actually
>the first few minutes,
>we saw ndq cash up over 19 points, then faded back and continued to trend
>lower, (i find that ndq cash tends to trend the best), so with the ndq
>heading south and reversing from early minutes highs it seemed obvious
>after the first hour we were headed lower, again i tried to send a comment
>at that time but it didn't go through? also today (wed), we had an inside
>day with a down close, that is bearish too.......
>
>gary
>hawaii
>
>----------
>> From: Donald Thompson <detomps@xxxxxxxxxxxxx>
>> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>> Subject: Mkt:Oex,SPX, SPu8 Pivot
>> Date: Wednesday, July 29, 1998 7:26 PM
>>
>> Rt's
>>
>> Tomorrow should be an interesting day. imho.
>>
>> Today the SPU8 couldn't get to S1. This is usually a bullish kind of
>> event.
>> Secondly, Selling increased after 13:00 EDT- price dropped. Volume made
>> a new cumulative low
>> intraday, but price did not. I have observed this before and I
>> interpret the larger capitalized
>> issues, which carry more weight in the SPX, to being bought. One cannot
>> ignore that volume continued down. but Momentum and the McClellen
>> Oscillators have "hooked" up
>>
>> I see two senarios. A rally up into the pivot at 1134 SPU8 even up to
>> 1137 SPU8 to take of any early morning bullishness. Like today, then a
>> final whoopy down to 1122 SPU8, the s1, which takes out all the stops
>> resting just under 1124 SPU8, If volume is negative then continuation to
>> 1115 SPU8.
>> If Volume turns positive then a rally could ensue.
>>
>> Or. An early spate of bearishness that continues down to 1122, due to
>> weak volume at the close. If volume continues negative farther downside.
>> Again if volume increases and goes positive a short term rally would.
>>
>> There are other scenarios like sideways.. rally up with no follow thru,
>> afternoon plunge into the abyss, :)
>>
>> Enclosed are S2,S1, Pivot, R1, R2
>>
>> SPX OEX BONDS SP8M
>> Pivots Pivots Pivots Pivots
>> High 1138.56 559.39 122.500 1145.90
>> Low 1121.98 550.63 122.063 1126.80
>> Close 1125.21 552.75 122.094 1129.30
>>
>> R2 1145.16 563.02 122.66 1153.10
>> R1 1135.19 557.88 122.38 1141.20
>> Pivot 1128.58 554.26 122.22 1134.00
>> S1 1118.61 549.12 121.94 1122.10
>> S2 1112.00 545.50 121.78 1114.90
>
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