Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 662.72

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Nov 19 4:00 PM EST

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To: Johnny Canuck who wrote (34756)	10/16/2001 3:13:56 AM
From: Johnny Canuck	Read Replies (1) of 68127

The QQQ 5-day RSI is now in a VERY overbought condition. Trade carefully. Shorts have been continually squeezed over the past few trading sessions. Their day will come soon in our opinion. October 16th is an up day only 38% of the time with 8 up days and 13 down days since 1971. Friday brings options expiration so be on the lookout for a forced dump in the coming days. Once those who are propping the market stop buying the fall will be quick. As a side note traders should be aware that mutual funds experienced $3.2 billion in outflows last week, a substantial amount. thelion.com

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