|
PureBytes Links
Trading Reference Links
|
Hi All:
There are so many posts on the impending market crash I've lost count of them.
We've been concentrating on the DOW, S&P (futures) etc.
How about looking at the thing from another angle?
Please refer to the attached weekly charts of Russell 2000 and Nasdaq indices.
Where's the bear? I certainly can't see one at the moment.
On the other hand, the oscillator indicators are telling us that both
indices are at or near overbought levels. As I said in my earlier post,
this should alert us that in the future, the indices may have some
retracement. If one is cautious, one should be prepared to liquidate some
stuff and take profit. As I also said, as long as the "market" is bullish,
it may not be very wise to go short.
This applies, of course, to both Russell 2000 and Nasdaq.
S&P and DOW certainly are in a different category, and should be treated
differently. That is, if they exhibit signs of bearishness (and I'm not
sure if they necessarily do), then it may not be wise to go long so soon...
Regards,
Wong
Attachment Converted: "f:\eudora\attach\rus2000-nasdq wkly.gif"
|