MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: sa-mule who wrote (4091)	8/5/2000 10:41:23 AM
From: bobby beara	Read Replies (1) of 19219

sam, one day at .41 is not enuf for me to show a euphoric top, need to string several days in a row of these readings with at least one under .4, like we did going into 7/17. while we didn't get as oversold on rydex as the may bottom (but didn't go there in price either), we did reversal in sentiment from bearish back to bullish, with the most bearish sentiment a week ago friday, so i think we need to look for sign of euphoria again before another LOW RISK shorting opportunity presents itself. the nas has filled the big gap now and i noticed orcl broke thru it's bearish gap from early july, if you look at the spx we are establishing a narrowing trading range starting from the march low to the march high, looks like it's pointing at fomc. b

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