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Here are 2 year charts of daily NASDAQ McClellan Oscillator and
McClellan volume oscillator - not pretty. While the NYSE models look
much better, they have started to roll over a bit. As indicated in
yesterday's post, the deep retracement in the SP has limited the upside
potential and I took index fund money off the table on the close. I
believe that yesterday did enough technical damage to (at least
temporarily) destablize the equity markets. Given the higher risk at
this point, I will wait for the NYSE model to join the NASDAQ model in
sell territory and re-evaluate when I get the next buy signal.
Earl
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, April 04, 2000 6:39 PM
Subject: [RT] Re: MKT- NASDAQ
> Whew, I am glad you addressed that question to Norman and not me. Cuz
> things don't look too good from a cumulative volume perspective. Some
> months back we looked at this chart with Ben's input and noted the
NASDAQ
> rocketing up last fall while the NYA sucked exhaust gas. If we take
another
> look now, ha!, grin, in retrospect, for the last week what we see
should
> make the events of this week no great surprise. Ben said to compare
the
> cumulative volume of the NASDAQ and the NYA individually and combined.
He
> also said to apply a 21 day exponential moving average to the CVs.
So, here
> we have the picture. On 3/30 the NASDAQ CV closed below the 21 day
XMA.
> Back on 3/15 the NYA CV closed above its 21 day XMA. On 3/31 the
NASDAQ CV
> came up to tag its XMA from below as the CCO came up to tag a
horizontal
> trendline based on closing prices. The rest is history. That appears
to be
> the anatomy of a crash.
>
> Astrotechwise, there had been some statements made earlier in the week
by
> others that the conjunctions this week were like August 1987. My
contention
> was that the similarities did not jive until July 2(which is on a
weekend).
> So the market did not stay down, as it would have if the simile was
valid.
> Instead, we got the resiliant rubberband effect as it just is not "in
the
> stars" yet for it to stay down.
>
> BobR
>
> ----- Original Message -----
> From: Earl Adamy <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Cc: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, April 04, 2000 5:19 PM
> Subject: [RT] Re: MKT- NASDAQ
>
>
> > Does that mean you see further imminent declines in NASDAQ? Looking
at
> > my models, all 3 are at lows not seen since Aug98. This indicates
that a
> > bottom will not be made until there is a successful retest of the
lows.
> > I very much doubt that today was it.
> >
> > BTW, the weakness in the commodities was very noticeable near
today's
> > lows in the equity markets. I took advantage of the opportunity to
do a
> > bit of buying.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "nwinski" <nwinski@xxxxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Cc: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Tuesday, April 04, 2000 6:28 PM
> > Subject: [RT] Re: MKT- NASDAQ
> >
> >
> > > BobR,
> > >
> > > The Mars - Jupiter Conjunction will occur Wed. night at
approx. 10
> > Taurus which
> > > is 40 degrees of the Zodiac. Upon studying your chart, I wondered
if
> > this position
> > > has any effect on the NASDAQ?
> > > 11 cycles of 360 = 3960 + 40 = 4000. So I looked at your chart
and
> > was disappointed
> > > when it cut through that level like a knife through paper. Then
I
> > said to myself,
> > > "myself, ok this was a very big volatility day, maybe I should
also
> > look at one
> > > cycle (360) down and see if it got there?" Then, upon figuring
out
> > that the Mar
> > > Jupiter number was 3640 and that Saturn Uranus were at 3650, and
then
> > looking at the
> > > low for the COMPQ (NASDAQ Comp) at 3649.11, my eyeballs about fell
out
> > of my head.
> > > Kewl!
> > > Coincidence?
> > >
> > > Planetarily,
> > >
> > > Norman
> > >
> > > P.S. Watch for support and resistance for COMPQ at 3640-50,
4000-10,
> > 4360-70, etc.
> > >
> > >
> >
> >
> >
>
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