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5-day TRIN back to very pessimistic. Just in the last week and a half it's
gone from very negative to very positive to very negative. Needs Prozac.
A/D line continues downward on the NASDAQ whereas it appears to have
stabilized on the NYSE. The fact that the A/D line set a new low where the
index set only a slighty lower low has been interpretted by some as a
positive sign. Any thoughts?
Marty Zweig was on Wall $treet Week and said that one of his favorite
indicators, the contrarian magazine cover indicator (when one of the major
weekly news mags comes with a bullish or bearish cover), gave a bullish
signal about a month ago and he likes to wait 4 to 6 weeks for it to take
effect. Oh, and the best news of all? Ralph Acampora came out with bearish
comments at midday today.
Kent
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