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I did get a buy signal on close from the NYSE model. Breadth indicators
I use to confirm model are negative which indicates probability any
rally is likely to be modest. NASDAQ model on a sell. Given overall
risk/reward, I will not go long with the standard stop placement at
yesterday's low. I will only consider long SP on a low-risk intraday
setup which offers a reasonably close stop placement.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, February 15, 2000 12:38 PM
Subject: [RT] Re: sp500 /nd
> My comment applies to the ND only ... the S&P may have just completed
a
> w.2 decline (just shy of the 78% retracement) from a w.1 high on 9Feb.
> Depending on the close, we could end up with an outside bullish
reversal
> of yesterday's inside day. A close near today's low would be quite
> bearish. My NYSE model could go on a buy at the close if things hold
up.
> If I do get a buy, the ensuing w.3-5 may be rather choppy and subject
to
> failure due to what I see as increased interest rate pressures - high
> grade commercial paper at all points of the yield curve remains
bearish.
>
> I will see how things go into the close - I will not bet the farm on a
> buy signal here.
>
> Earl
>
> ----- Original Message -----
> From: <Proffittak@xxxxxxx>
> To: <eadamy@xxxxxxxxxx>
> Cc: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, February 15, 2000 11:01 AM
> Subject: Re: [RT] Re: sp500 /nd
>
>
> > In a message dated 2/15/00 12:14:51 PM Eastern Standard Time,
> > eadamy@xxxxxxxxxx writes:
> >
> > << Early portion of declines are generally slower than the later.
> Still
> > looks like more downside and my NASDAQ model will go on a sell
today
> > assuming poor breadth into close. Not necessarily a prolonged
decline
> > but probably minimum 3470 on ND. Looks to me like the ND needs to
> > correct the entire rally from October in order to build a base
strong
> > enough to support any further advances - the most recent rally was
> the
> > second attempt to rally from the early January lows and neither of
> the
> > rallies managed to attain the minimum impulse projection.
> >
> > Earl >>
> > good afternoon
> > my most trusted indicator for the 5 days is @-172 and on 10
days@xxxx
> > at this oversold levels the down risk is TOO limited,,
> > (not that it could not happen)
> > but statistically it does not have good odds,,
> > also with other technical such as macd histogram in bullish
divergence
> > lead me to take qweek profits
> >
>
>
>
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