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Strategies & Market Trends : Classic TA Workplace

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To: Shack who started this subject	8/23/2001 8:47:14 AM
From: skinowski	Read Replies (2) of 209892

Good morning... I notice an interesting phenomenon: it is no longer easy to determine just what the sentiment shows, many traders seem to have very different impressions… On SI, most read it as bearish (high complacency level). Hochberg’s proprietary indicator shows the opposite (high level of fear). I have this ‘theory’ that the market is out at this point to confuse technicians and traders, and I would almost expect to see confusing interpretations of the sentiment – no matter what the market will do next. One relevant thing is the declining wedge chart formation on the NAZ indices. In order to “work out”, it probably has to do it pretty soon, so, it just may… or may not. Today, tomorrow will show. I will probably try a couple of conservative long entries with tight stops and move fast to breakeven. If an upswing does develop, it will give me a chance to benefit from it while on vacation next week… that would be nice.

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