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NASDAQ is in a bearish trend based on weekly. 1 of 3 weekly breadth
models have already confirmed last week's low. Daily models all show
bearish confirmations of Friday low (26Oct vs 10Nov). NYSE is in flat
trend based on weekly. 3/3 of weekly breadth models are showing bearish
divergence. Daily breadth models show modest bullish divergence in A/D
issues and High/Low and bearish confirmation in A/D volume. Both
exchanges are on a sell. VIX has not yet reached the 40 level which has
marked major bottoms for the last 3 years. Bullish impulse patterns in
NYSE, SP, and Russell indexes have been broken and NASDAQ has just
completed pattern of lower high and lower low.
----- Original Message -----
From: <proffittak@xxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Monday, November 13, 2000 4:48 AM
Subject: [RT] Commercial NET short/long current positions.../mkt outlook
> >>
> Hello
> hope you all had a nice weekend
> the nya put in an inside day Fri
> the NASDAQ is showing a bullish divergence on both rsi and new hi
new low
> the p/c ratio is VERY bullish
> the vix is close to a buy
> overall showing hints that the commercials are DECREASING their
shorts
> (only taking profits and not going long)
> when we close 2.1% from the low THEY will close all shorts or
have a low
> amount.
> (this will be a little distorted by Fri option expiration)
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