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I hope you mean that the decline "ain't over yet" - I'm hoping this decline
will sustain a short position into SP 1100.
I don't have SC up right now and it takes a long time to load, however the
McClellan Oscillator on the NYSE rarely hits such extreme low levels
(below -200) as we hit a few days ago and if memory serves, it's done so
only 3 times since 1987 (1990?, 1998, 1999). In each case, the market has
sold off steeply each time the McOsc has returned to the 0+ "buy" zone. It
is this phenomena which drove Gerald Appel to require double bottoms off
modest oversold levels and smooth the McOsc when it became deeply oversold.
Earl
----- Original Message -----
From: Clyde Lee <clydelee@xxxxxxx>
To: realtraders list <realtraders@xxxxxxxxxxxx>; swingmachine
<swingmachine@xxxxxxxxxxx>
Sent: Thursday, August 19, 1999 9:46 AM
Subject: MKT: SP-500 30 min CASH INDEX -- SM Projection
> Was downloading some history and pulled the SPX cash index
> down from early 1987 to now.
>
> Just decided to have a look with TS2000 version of SM.
>
> According to history, there have been only 3 similar
> conditions in the SP market since 1987 and the projection
> from these is "it ain't over yet".
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