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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST

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To: pater tenebrarum who wrote (32293)11/4/1999 9:12:00 PM
From: bobby beara  Read Replies (1) of 99985
 
Heinz, i believe we are a a point were the pedal hits the metal, whether this is a new uptrend or a bear market rally.

all based on 9 day rsi 30 oversold 70 overbought:
bonds short term very overbought
xau short term very oversold
ndx/spx short term overbought

ndx/comp sitting around the top of rising channel from january, and the candles over the last three days look flaky and you have what look like terminal moves outside channels in many of the specs and i'm sure all that ndx short interest built up at the october low is kaput.

today .49 p/c ratio

another equity only p/c ratio under .33.

McCllellan Oscillator gave minor change reading today - means major move withing 1-4 trading days - also overbought - question is initiation spike or trading range top.

If initiation spike we should get a minor sell-off.

bb
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