Re: [RT] SP 5-24

["EarlA" <earl.a@xxxxxxxxxx>]

I'm attaching my NYSE Breadth Models 
charts. Upper left shows NYSE coiling on top of the 200 dma. The coiling itself 
and the failed rally attempt on Wednesday suggests that the 200 dma will hold. 
The McClellan Issues Oscillator (lower left) and A/D Volume Oscillator (lower 
right) show a serious break below prior pivot lows (horizontal red line) 
followed by a break above the previous pivot highs (horizontal green lines) and 
move toward/into overbought zones.
 
What we see here is a major move in the 
oscillators accompanied by almost no move in price. This is unusual, to say the 
least. With the oscillators now in position for a pullback, the outcome should 
be seen in the price action during the next few days. I suspect that the outcome 
favors the bears. but it's not a sure bet.
 
Earl
<BLOCKQUOTE dir=ltr 
>
  ----- Original Message ----- 
  <DIV 
  >From: 
  <A title=delta88343@xxxxxxx 
  href="">delta88343@xxxxxxx 
  To: <A title=realtraders@xxxxxxxxxxxxxxx 
  href="">realtraders@xxxxxxxxxxxxxxx 
  
  Sent: Monday, May 24, 2004 6:38 PM
  Subject: [RT] SP 5-24
  
  This market is struggling up to its next projected high point.
   
  Still looking weak to me at this time. 
   
  Expect a turn any day now.
   
  Does anyone elses work confirm the same?
   
  Thanks
   
  Lee







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