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In a message dated 9/18/99 8:39:06 AM Eastern Daylight Time,
bobrabcd@xxxxxxxxxxxxx writes:
<< Just wondering how others are interpreting the current NYA pattern and
McClellan Oscillator configuration. It looks to me like there is a bearish
triangle with a decending top and essentially flat bottom. As the vertex of
the price triangle is approached the McClellan Oscillator is showing extreme
weakness in a down channel. Some may be misinterpreting the oscillator at
this time as saying it is oversold when in fact it can become twice as
oversold if the NYA drops through support in the closing weeks of the
quarter. It also seems like there should be massive tax loss selling this
year since the advance decline line has been dropping for a significantly
long time.
Bob Roeske
>>
good morning bob
try the McClellan osc normalized (a/d line ,, but adv-dec as percetage of
total issues)
and it gives better idea of where we are heading
i think in 2-4 days new hi on nasdaq and dow
then BIG fall
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