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..which was the last trough. I think the bearishness is easily explained by
the breakout of the Naz over the past three months. It has to stop sometime,
and once that happens, it will probably restrain the Dow around it.
If the Naz dropped 100 points a week for the next 4 weeks, that would only be
a slight correction, and the Dow only has to hang out in the 11500-10500 area
to allow for some convergence.
Regards
DanG
Gwenael Gautier wrote:
> No harm, but I am amazed at the amount of bearishness on this list. Only
> negative market comments since last week, haven't seen that since last
> october...
>
> Frankly I don't have a clue, but it's a-musing.
>
> Gwenn
>
> Earl Adamy wrote:
>
> > Current risk on SP appears to be 1368, ND 3400 and 3000, RL (Ru2000) 505
> > and 480, NK 17700 all basis March futures. Unless something changes
> > radically in my breadth models or we get a systemic shock, I believe we
> > are continuing an ABC correction which began in early January and the
> > upper values indicated should contain the correction.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: <Proffittak@xxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Cc: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Tuesday, January 25, 2000 6:37 AM
> > Subject: [RT] Re: Intra day hi in market, abondon ship
> >
> > > In a message dated 1/24/00 11:07:20 PM Eastern Standard Time, Vaugh002
> > writes:
> > >
> > > << Ben...another good call...throw the cheering crowd a crum and hint
> > at how
> > > you did it ..... take your pats on the back ....thanks tom vaughan
> > >>
> > > The call was made for many factors
> > > first as you saw in eodcv chart curtesy of BOB R
> > > the divergence is long standing
> > > but there were many other hints
> > > too much call buying
> > > volume momentum short and intermediate gave a sell
> > > macd histogram showed a bearish divergence
> > > new hi issues were very low in quantity compare to the
> > previous hi
> > > in NASDAQ and Dow !!
> > > smooth rsi show a bearish divergence
> > > and just 2 weeks ago we actually had more new low on the NASDAQ then
> > new hi
> > > !!
> > > this is not a healthy market
> > > and YES we had in the last few weeks a BIG improvement in the ad
> > line
> > > when you look at the BIG picture (weekly)
> > > and do the 4 week stolcastics on weekly ad line or macd on ad
> > line
> > > it is still TERRIBLE
> > > we may be short term oversold
> > > but
> > > unless the vol. and ad line improves Drastically
> > > (i do not see another new hi this month)
> > > and not next month
> > > happy trading
> > > Ben
> > >
> > >
> > >
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