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Strategies & Market Trends : Ask DrBob

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To: Drbob512 who wrote (2119)	8/29/2000 9:08:05 AM
From: the-phoenix	Read Replies (1) of 100058

Dr. Bob: What do I think the McClellan Summation Index is telling us? I notice that you have gotten in the habit of "questioning the questioners" lately, as a way to get posters to contribute to the dialogue versus just leeching off of you and the others here. (Your buddy T2K suggested this to you a while back.) Well, I asked about the McClellan mainly because you used to use it alot and I don't really follow it. But I do see that all major indexes (OEX, DOW, NYSE, NDX and COMPX) are overbought right now with weak volume, some with negative divergences in money flows, A/D lines and momentum indicators and most with short term bearish chart patterns (lots of rising wedges). Things look ripe for some type of correction soon, and historically September is often a poor month for the markets. While you have expressed your belief that this year may not be following "normal" seasonal patterns, I believe that the high of the summer rally in July did coincide with the same week of the top of the summer rallies the past two years? JMHO. The Phoenix \```> //

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