RE: [RT] What's next

["EAdamy" <eadamy@xxxxxxxxxxxx>]

I think that intermediate term the market is more bullish than bearish (weekly chart, breadth models, VIX, and credit spreads have all largely confirmed the rally in equities), however it needs a modest correction to correct divergences on the daily charts and breadth models. I do think we see SPX 1671 before we turn down big-time.

 

Earl

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From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Jim White
Sent: Monday, October 08, 2007 4:16 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] What's next

The longer term sentiment remained bearish to the close HOWEVER, the trend was bullish from about noon and the indexes closed above the level at that time. This was largely an inside day and tells us nothing about the longer term expectations for the markets. I am looking for closing weakness to confirm a bearish reversal and until that happens, all bets are off.

I closed two shorts for profits today but am worried about two I carried overnight.

 

Jim

----- Original Message -----

From: Jim White

To: realtraders@yahoogroups.com

Sent: Monday, October 08, 2007 9:31 AM

Subject: Re: [RT] What's next

My measure of longer term sentiment went bearish at 10:23 this morning. If it closes in this condition, I expect more downward pressure this week.

 

Jim

----- Original Message -----

From: Jim White

To: realtraders@yahoogroups.com

Sent: Friday, October 05, 2007 9:59 AM

Subject: [RT] What's next

Let's have some discussion here!

 

Will today's spike up move mark a high from which the markets will decline or are we headed higher next week?

 

Since yesterday was an inside day for the indices,my work indicates a high today and a decline to around 10/17. If we reach a higher high on Monday, the forecast has failed.

 

If you express an opinion, please explain your rational.

 

Regards,

 

Jim White

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