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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject7/15/2001 4:30:41 PM
From: besttrader  Read Replies (1) of 37746
 
From another board. 16 reasons to go LONG -->

From what I can see the technical indicators for the NYSE don't look so bad.

1. The AD line ($NYAD) is holding up and positivly diverging. (bull + 1)
2. The Adv-Dec Volume ($NYUD)is questionable since it's aligned with the recent decline. (Bear +1)
3. The New His-New Lows ($NYHL)is questionable but the cumulative trend is still bullish. (neutral)
4. The MCO ($NYMO) is positivly diverging. (bull + 1)
5. The Summation Index ($NYSI) is declining but still well above zero (bull + 1)
6. The VIX ($NYSI) is right in the middle of the BB trading range (neutral)
7. The NYSE Bullish Percent Index ($BPNYA) is at 34.88% (neutral to bullish)
8. The 5 day MAVG of the $TRIN is at .98 which is neutral
9. The 10 day MAVG of the $TRIN is at 1.18 which is moving up from oversold levels (Bull +1)
10. The obvious Head and Shoulders pattern completed its projected downside (neutral)
11. The Stochastic on INDU and SPX indexes has crossed over in the oversold area (Bull +1)
12. INDU and SPXThe PPO (or MACD's) have crossed over. (Bull + 1)
13. The OBV on the DJIA diverged at the recent low (Bull + 1)
14. The OBV on the SPX aligned with the recent low (Bear + 1)
15. "Crash" talk has intensified here, the indicators don't agree.
16. Along with 15, the other Bullish Sentiment polls (Consensus etc) are making new lows (Bull + 1)
(Symbols work with StockCharts.com)

Sum it up
8 Bullish indicators
1 Bearish indicator
5 neutral indicators

I'm inclined to think we go up from here.
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