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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Steve Lee who started this subject12/27/2001 8:02:16 PM
From: sylvester80  Read Replies (1) of 99280
 
First time since last summer, the "Smart Money Indicator" has turned down

trendmacro.com

>>>TECHNICAL EXCELLENCE
That Smarts!
Thursday, December 27, 2001
Fred Goodman

For the first time since last summer, the "Smart Money Indicator" has turned down.

Yesterday had all the disappointments of Monday, with a little more volume and a very poor Smart Money Indicator. It looked great in the morning with a 125 point rally in the Dow, 65 points of which happened in the first half hour, followed by a decline of 39 points in the last hour. This made the SMI lose 104 points on the day.

So the Smart Money Indicator is now definitely in a short term declining pattern. For the first time since last summer, it is suggesting market weakness ahead. This is an intermediate term indicator, which means that somewhere in the next 60 days, we should expect to see market weakness.<<<
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