Message #29630 from dennis michael patterson at Feb 8, 2002 4:16 PM
good for you b! please comment on things as they unfold!!!!
here some fat to chew on for tuesday (fat tuesday -g-)
sentiment was getting flaky after the new year, but now is hugely bearish, climaxing with rasche's capital "ENOUGHT" =G=
and the pattern play on the dow which is a downsloping H&S pattern, which now may fail, need more up days to turn all the indicators up and get the crowd bullish again.
10 day put/call ratio is at the march/april 01 lows
stockcharts.com[w,a]daclyyay[dd][pb21!b10!a.87][vc60][iUb5]&pref=G
as were the rydex ratios last thursday, and quite near the sept lows.
Message 17039911
it is possible that the sept drop was a bear trap below the march april lows and now we have retested that trap and are headed higher.
stockcharts.com[w,a]daclyyay[dd][pb21!b10!a.87][vc60][iUb5]&pref=G
we stil are in chop, and it breadth oscillators headed down
stockcharts.com[w,a]daclyyay[de][pb20][vc60][iUb14!La12,26,9]
but the $bpndx 14 day rsi is as oversold as it was at the sept bottom, and is getting close to getting to benchmark oversold 20 area.
stockcharts.com[w,a]dacayyay[de][pb20][vc60][iUb14!La12,26,9]&pref=G
my feeling is that we had some pretty bearish news and we failed to take out some important supports, now we have to see if the bulls can get back above the lows in dec and jan 23rd, if they do the shorts will be buying in a panic.
b |
