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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: 16yearcycle who wrote (33264)2/26/2002 9:04:16 AM
From: exp   of 99280
 
Eugene, intriguing arguments about rsi on nas bp but perhaps not entirely correct. BPCOMP rsi had similarly low values in 1999 and in Oct 2000 at NON-bottoms. On the other hand, BPNDX has not had such low values at NON-bottoms but is more volatile than BPCOMP. As far as NASI rsi it was just as low in Oct 2000 at a NON-bottom. Your arguments 1. and 3. do not appear as important technically to me. I think that what happened is that after a 400 pt and 19% correction on Nasdaq some indicators naturally exhibit quite oversold levels similarly to Oct 2000. I still maintain that 1650 is a natural potential bottom judging from weekly Nasdaq charts and that sentiment indicators must mark this potential bottom in an unequivocal manner if we are to have a sustainable rally. Eugene, thanks for your interesting thoughts and please contribute more insights on this thread as we are all focused on the same goal of increasing our portfolios' values.
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