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Earl:
I am not disputing what you have written only that to me it
sounds contradictory. That is to say, it seems Appel would
require a double bottom from an EXTREMELY OVERSOLD
position; whereas a V-type bottom could occur from a
MODESTLY OVERSOLD levels? Can you clarify? Of course
your message doesn't say anything about V bottoms.
Thanks.
Charles
-----Original Message-----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: realtraders list <realtraders@xxxxxxxxxxxx>
Date: Thursday, August 19, 1999 12:50 PM
Subject: Re: SP-500 30 min CASH INDEX -- SM Projection
>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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