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Hello Norman
I am not much of a contributor to this forum but I read
you posts with great interest and am amazed with your analysis.
Kishore Rochey
>
> Time for the current upswing in the US Stock Market should
expire by the Friday June 6 close. Per the June Astro-Trend letter
forecast for a high June 4 - June 7 weekend, what has been missing is
some kind of blow off and option sentiment numbers indicating too
many bulls. My NOW Index option sentiment indicator, as of Thursday's
close, just went into over bought territory, but is not yet in sell
territory.
>
> The market has now had 5 consecutive higher closes. About 75% of
the time, this would be a good sell set up. However, the recent low
volatility detracts from the potential overbought condition of 5
higher closes and presents a possible exception to this rule. In
other words, because the market has been cautiously crawling up in a
self correcting manner for 5 higher closes, this is not as good of a
set up as a market that rockets higher and gets very over bought over
5 higher closes. As stated above, what would be ideal is a blow off,
if only a mini-blow off. Friday may be the day for this, especially
if it occurs in the morning before 10:52 AM EDT, when the Moon enters
Virgo.
>
> If we do get a mini blow off, look for resistance in the S&P
500 at 1006 or 1016. If we get the expected top, I expect a $50
pullback in the S&P next week. If a big short squeeze ensues and
S&P gets significantly past 1016, the next major resistance is
1073.
>
>
> GOOD TRADING!
>
> Norman Winski
> ASTRO-TREND
> nwinski@xxxx
> June 6, 2003, 2:00 AM EDT
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