as well as my own proprietary sentiment indicators, I believe we're near a major low both in time and price level. >>>>
ahem -g-
Message 15318250
Nas McCllelan oscillator in oversold buy territory and making bullish divergent higher lows, versus lower lows in nasdaq since the april crash.
a reversal above the zero line would be bullish.
stockcharts.com
10 day moving average cboe put/call ratio in bullish territory of .73
stockcharts.com[l,a]daclyymy[pb20!b10!b5][vc60][iUb5]
one of those moving average cross-overs could create a buy signal, switch in sentiment from bearish to bullish
several days of negative tick readings and 35 vix indicate fear level is high a possible selling climax
possible 5 wave count finished from the the 23rd naz top, with the three drives down on 1/26, 2/14, and friday.
207.61.23.99
i have a possbile wave count that would put the decline ending friday as the bear market leg down from july or sept as complete and we should have a countertrend rally back to 2900-3000 area before the final decline, another wave count would put that decline done in december and this is the final leg down in the bear market, and if thats the case this final wave down could extend farther, with this wave completed friday as he/she wave 3 of 3 -g-
Daily, weekly, and monthly trends are bearish, all rallies should be looked upon as bear market rallies, until a series of higher highs and higher lows are created, fundamental picture remains week, with many nasdaq companies gapping down on earnings surprises and lowered forward guidance.
a reversal in price action here, with strong market breadth, higher highs and higher lows could register a buy signal, stay nimble |
