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NYSE Daily Breadth Model is in extreme oversold condition. A/D Issues (LL)
more extreme than A/D Volume which tells me that the deterioration has been
extremely broad however the decline has not seen any evidence of capitulation
even though at extreme levels.
Two possibilities here: 1) we rally for a day or two and then retest or 2)
we rally furiously for a week or more. Historically, the A/D issues
oscillators would need to retest the lows so a short rally would be the safe
bet. However, the most recent occurrences (9/21/01, 7/23/02, 5/10/04) of the A/D
oscillators at these extreme levels have resulted in the fast and furious rally
scenario for some weeks. What is significantly different now from those 3
occurrences is the fact that the A/D volume oscillators are nowhere near the
extreme levels seen on those 3 dates. This suggests that scenario 1 could come
into play.
Earl
----- Original Message -----
Sent: Tuesday, March 29, 2005 8:32
PM
Subject: Re: [RT] SPX
this IS a difficult market
however
game is
OVER
tomorrow we make a LOWER low and close up
for until
4/1
4/1-4/5 should be a low for oil and gold , high for dollar and bonds
and
sp/nasdaq
Ben
----- Original Message -----
From: "Don Ewers"
<dbewers@xxxxxxxxxxxxx>
To:
<realtraders@xxxxxxxxxxxxxxx>
Sent:
Tuesday, March 29, 2005 9:11 PM
Subject: Re: [RT]
SPX
>
> I might add once everyone is convinced there is a
"range" and consider
> trading the current range . . . it will do
something different. Now that
> a
> range is defined "and
noticed" . . . look out?
> ----- Original Message -----
> From:
"Don Ewers" <dbewers@xxxxxxxxxxxxx>
> To:
<realtraders@xxxxxxxxxxxxxxx>
>
Sent: Tuesday, March 29, 2005 7:09 PM
> Subject: Re: [RT]
SPX
>
>
>
> I did not trade it but honestly thought
the recovery from the night lows
> back to the high was going to be a
breakout. Instead chop, chop chop into
> the employment
maybe. What is the saying, "don't try to make sense of
> sideways
markets", concentrate on the breakout, up or down once it
occurs.
>
> ----- Original Message -----
> From: "EAdamy"
<eadamy@xxxxxxxxxxxx>
>
To: "Realtraders" <realtraders@xxxxxxxxxxxxxxx>
>
Sent: Tuesday, March 29, 2005 12:31 PM
> Subject: [RT]
SPX
>
>
> 5 failed attempts to break above resistance at
1182 and now on 5th attempt
> to break below support at 1174. All that
was accomplished during the past
> 4
> days was to relieve the
oversold condition in the oscillators.
>
> Can they try a 6th
time? Could be, however Curtis Arnold describes the
> rectangle as a
reliable continuation pattern. 3 price targets lie below:
> 1164, 1146,
and 1130.
>
> Earl
>
>
>
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