MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: whydididothat who wrote (9751)	1/14/2002 9:38:45 PM
From: bobby beara	Read Replies (1) of 19219

Conclusion: the direction of this ratio is more important than the absolute numbers ie: as long as ursa/nova is dropping the bears should move aside. When it starts rising (as it is now) the bulls should stand aside. I apologize if this is overly simplistic<<< No, not simplistic at all, contrary opinion is an art, not a science, and contrary opinion on st, it, lt levels have to be adjusted, just like support and resistance levels. The real hard understanding now, is the rydex ratios which are full of bears vs. the AAII survey and the II survey, which are both showing extreme bullish readings, and the vix which is showing complacency. Larry McMillan did a weekly which i condensed down to two words consolidating, no consensus, which implies that after the consolidation ends that people will find a consensus, breaks of important support or resistance should be taken seriously imo.

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