CLOWNS TO THE LEFT OF ME.. JOKERS TO THE RIGHT. Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : CLOWNS TO THE LEFT OF ME.. JOKERS TO THE RIGHT.

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: IndexTrader who wrote (49)	4/19/2000 8:35:00 AM
From: Topannuity	Read Replies (1) of 306

More on the TRIN from Peter Eliades' Service daily comments: "An excellent technician by the name of Ralph Bloch was interviewed on CNBC today. He made an interesting comment about a particular sequence in the Trading Index. He noted that when a single day reading greater than 2.0 was followed by a single day reading less than 0.50, it usually meant there would be no significant downside pressure over the short term. Ralph said there were 14 instances since 1962 when this particular pattern had been seen. We checked our data back to 1962 and actually discovered 26 similar instances, but as a general rule his commentary was accurate. There were 2 prior instances over the past 38 years when such a pattern was seen but the market still had a significant decline before it. In both of those instances, however, the market moved sideways to slightly up over the next several weeks. The dates of those prior instances were September 9, 1969 and October 10, 1979. This technical information jibes rather closely with the information we gave you yesterday, namely that single day Trading Index readings greater than 4.0 were a good indication that either a bottom had been formed or the market was close time wise to a bottom of some kind. What continues to surprise us is that classic Trading Index readings that are usually seen at market bottoms were not seen over the past two days. In fact, the intermediate term Trading Index moving average that we follow, the Open 30 Trading Index, closed today at 0.86, much closer to overbought territory than to oversold territory. Also, as we noted yesterday, our own New 10 Trading Index has yet to move higher than 1.0. These are factors that complicate an otherwise potentially bullish short-term pattern."

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next