MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (10006)	1/30/2002 5:51:14 PM
From: nsumir81	Read Replies (1) of 19219

"This says we get good follow thru tomorrow".. Now that the P/C has gone greater than 1 you cite it as reason for a rally (agree). BUT..when the P/C was way low, and the indices though near oversold daily were still overbought weekly, you turned bullish maybe somewhat early, if I recall correctly. When the money market was oversold AND all the long funds (and indices) were overbought, I remember you said that it was bullish (does not make sense). When it was overbought you said that was also bullish (now that is understandable). Why was the low P/C relative to where things were (IN FACE of low volume rallies that turned significantly back from gap-up/intraday highs just before the indices broke down recently) not a reason for a downdraft?

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