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>From an astrotech view the right side of the "W" could carry up to the
Sun/Earth resistance line at 4175 during the three day conjunctive period
of, 5/17 Venus/Jupiter 4105, 5/18 Venus/Saturn 4115, 5/19 Venus/Mars 4310.
The conjunctiive period could also take it down to 3200 at the Uranus price
line if the bear still has claws on prices. According to Bob Carver at
Market Clues, the $C/$P is dead neutral at 1.00 at Friday's close. So the
dollar value of OEX calls equals the dollar value of puts for neutral index
hedge/speculation going into the FOMC 5/16. Kind of interesting that this 3
day conjucntive period comes right after the Fed meeting, which we know
should provide some dramatic price movement.
BobR
----- Original Message -----
From: BobR <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, May 14, 2000 5:12 AM
Subject: [RT] MKT - NASDAQ
> A "W" pattern appears to be developing in the NASDAQ and its cumulative
net
> volume, i.e. cum(upvol - downvol). A cross of the NASDAQ cumulative
volume
> above the 21 day exponential moving average would kick the NASDAQ up into
> the right side of the "W" formation. So far the point C is higher than
> point A on both the NASDAQ price and cumulative volume. A move by price
and
> CV above points B would complete the pattern and bode well for a summer
> rally. A drop below point C is of course a reassertion by the bear
against
> the timidity of a bull with a sword in his neck. The NYA cumulative net
> volume continues to track above its 21 day EMA after a continuation buy
> last week.
>
> Bob Roeske
>
>
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