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[RT] Re: sp500/nd



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RT,
   I agree P/C is neutral right now.  Keeping it real simple, there is a 
convergence of a downtrend line and the 62% retracement for the S&P Cash at 
about 1472.  The 20d Bol. Band is 1481.  

   The lower Bol. Band on the VIX is about 26, it closed about 27.5. 

   A close of VIX under the band, S&P stopping at the DT line, and an IBD or 
CBOE low reading of P/C is an ideal short term sell signal in my opinion.  

   In this downtrend, IBD P/C ratios of < .40 have occured on 4/3, 4/7, 4/25, 
5/1. 

Ray F