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We do have an interesting situation with Friday's data. The Probability
Sympathizer gapped above its volatility bands and closed at a rather high
level, usually commensurate with price reversals. How to interpret
it....either as a very bullish breakout situation....or as a contrary
bearish signal. 645 OEX might be the key. 640 to 645 has been tough
resistance lately.
bobr
----- Original Message -----
From: "EAdamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, July 01, 2001 6:27 AM
Subject: Re: [RT] Re: Turning Point for both nasdaq and sp500
> This is essentially what I indicated last Thursday and nothing changed on
> Friday ... NYSE breadth models in buy mode NASDAQ still in sell mode
> although strong breadth in NASDAQ is confirming this move up. A down day
or
> two in NASDAQ followed by rally would switch it to buy mode. Price
> structures are mixed but breakdown of ST bearish structures suggests we
> could go higher. LT structures still look negative and I believe we will
> more or less follow the path of the 73-74 decline - updated NY and NQ
charts
> were posted on the 17th. Most negative of all is the sustained low levels
of
> VIX - see attached.
>
> Earl
>
> ----- Original Message -----
> From: "profitok" <profitok@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Saturday, June 30, 2001 9:40 PM
> Subject: Re: [RT] Re: Turning Point for both nasdaq and sp500
>
>
> > you are right bob
> > barrons does not have the new hi for fri
> > but yahoo shows this guy is wrong on new hi
> > HOWEVER
> > i still believe he is right on the markets
> > (this does not mean free fall monday
> > but to me it mean if you are still long, take your money off the table
> > Ben
> > ----- Original Message -----
> > From: BobR
> > To: realtraders@xxxxxxxxxxxxxxx
> > Sent: Saturday, June 30, 2001 10:46 PM
> > Subject: Re: [RT] Re: Turning Point for both nasdaq and sp500
> >
> >
> > What new high list decreased? Best to recheck those numbers.
> > ----- Original Message -----
> > From: profitok
> > To: realtraders@xxxxxxxxxxxxxxx
> > Cc: Vincent DONOVAN
> > Sent: Saturday, June 30, 2001 7:40 PM
> > Subject: [RT] Re: Turning Point for both nasdaq and sp500
> >
> >
> > hello
> >
> > recieved this over the weekend.
> > i share the man's view,
> > nice weekend
> > Ben,
> > Friday was mixed.
> > The NYSE ADL was strong, but the OTC and AMEX AD lines were not
> strong.
> > New lows increased on all markets.
> > New highs decreased on all markets, but not enough to turn the new
> high indicators downward.
> > The secondaries were much stronger than the blue chips.
> > Growth underperformed value in the large cap area and the
> underperformance was enough to
> > turn the value / growth environment from favoring growth to neutral.
> >
> >
> >
> > This recent rally has been limited to small caps and techs and both
> are a little overbought.
> > The rally is already a day or two longer than the recent rallies of
> the past 2 months, but
> > we are in a normally strong end of month beginning of month pre
> holiday period.
> >
> > I have mentioned the NASDAQ new high indicator many times and it has
> been moving upward since
> > the beginning of this rally. The number of new highs on the NASDAQ
> decreased to 12 above the
> > value of the indicator so it will not take much of a decline in
NASDAQ
> new highs to turn the
> > indicator downward.
> >
> > Surprisingly few of the short term and sector signals have gone long
> in this rally and it is
> > especially surprising that the OC signal, which is Rydex's take on
the
> NDX did not go long
> > considering the strong performance by the NDX over the past week.
> >
> > Most of the sentiment indicators are neutral, however, watching Wall
> Street Week Friday night
> > Louis Rukeyser was as bullish as I have ever seen him. He all but
> declared that the mariet
> > would be up a year from now. Furthermore 3 of the 4 panelists
> declared that we had seen
> > the lows for the year. Of the five, only Robert Stoval was
reticent.
> If the panelists are
> > representative of overall sentiment, it is dangerously bullish.
> >
> > The recent cycle of approximately 6 day up legs followed by 6 day
down
> legs has now had 8 days
> > in this up leg so a correction is due. Some possible scenarios are:
> >
> > 1. The market continues upward for several more days supported by
the
> techs and small caps and
> > then collapses. This is possible considering we are in the normally
> strong pre holiday period
> > that could easily extend the current rally.
> >
> > 2. The market corrects for a day or two and resumes its climb.
This
> would imply that markets
> > difficulities of the past month are over and a summer rally has
begun.
> >
> > 3. The market begins a correction that lasts 6 days or so and the
> recent pattern continues.
> >
> > I am slightly inclined to the first scenario.
> >
> > Good luck
> >
> > ----- Original Message -----
> > From: Ninja
> > To: realtraders@xxxxxxxxxxxxxxx
> > Sent: Saturday, June 30, 2001 5:17 AM
> > Subject: [RT] Turning Point and Traid Research
> >
> >
> > Hello,
> > Anybody know how I can get access to Walter Studnicki of Turning
> Point and James Brock of Traid Research.
> >
> > They are suppose to have good track record.
> >
> > Thanks,
> >
> > NJ
> >
> >
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> >
> >
> >
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> >
> >
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> >
> >
> >
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> >
> >
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> >
> >
> >
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> >
> >
>
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