|
PureBytes Links
Trading Reference Links
|
I have quite a bit of work to do on charts this weekend, but most of my
equity indexes are showing strong AGet time clusters on June 11-12. My daily
breadth models have been building some serious divergences over the past
couple of weeks and are now in sell mode. Finally, VIX is at extremely low
levels from which I would expect to see a serious decline. As indicated in
an earlier post, I expected upside follow-through from Friday's close to
nominal new highs setting up a w.5 failure swing terminating June 11-12
which would mark the end of this rally. We may still get there, however
Friday's action appears to indicate more of a struggle.
On a more general note, my overall thinking has been getting more bearish as
I believe the Fed and brokerage community have effectively reinflated the
bubble ... best demonstrated by the near vertical rise in the NYSE and DJIA.
I am not one to fight tape, however all things considered I would not be
surprised if this whole rally turns out to be an interruption in the bear
market decline.
Earl
----- Original Message -----
From: "Jim White" <jwhite43@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, June 09, 2001 7:12 AM
Subject: Re: [RT] S&P
Earl,
My work indicates a low on 6/12 between 1235 and 1245
Jim
----- Original Message -----
From: rosow@xxxxxxx
To: realtraders@xxxxxxxxxxxxxxx
Sent: Friday, June 08, 2001 6:14 PM
Subject: Re: [RT] S&P
Earl,
I see 1216 - 1226 as good fib support and a wave B termination. See
chart.
Lenny
In a message dated 6/8/2001 3:27:45 PM Eastern Daylight Time,
eadamy@xxxxxxxxxx writes:
If price fails short of the green line and comes back to the red line
just
above this morning's lows, the rally is probably kaput. Price action had
been bullish into the close and I thought we'd see a new high but the
worm
kinda turned with another gap open this morning.
Earl
Yahoo! Groups Sponsor
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
----------------------------------------------------------------------------
--
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|