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My models are in sell mode, many downside price objectives have been
met, downside volume has picked up, vix is at buy levels, and time is
overdue for a rally. In short, for a couple of days now we have seen
extreme oversold conditions without the rally itself. I did think that
NASDAQ's ability to more or less hold previous price levels in face of
very bearish market news was positive. NYSE was late in rolling over but
yesterday got within 5 points of the 162% expansion objective. So,
bottom line, I think we are getting close to a rally which may last for
a few days or weeks before we retest the lows. The final ingredient is
price - I am closely monitoring intraday charts of SPZ, NDZ, NASDAQ
composite, and NYSE composite for a series of cup and handle bottoms
(see recent post on subject) in 1 and 5 minute charts which should then
turn up in the hourly charts.
Earl
----- Original Message -----
From: "Harry & Maggie Feld" <ariel@xxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Friday, October 13, 2000 4:39 AM
Subject: Re: [RT] MKT: Who sells
> the time and are willing to share some of your hard-earned wisdom.
So.... can
> we keep this thread going? Anyone else out there willing to share some
of what
> they will be watching that might hint of a turn?...............Harry
Feld
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