Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Justa Werkenstiff who wrote (39303)	3/8/2002 10:53:49 PM
From: exp	Read Replies (3) of 99280

Justa and Jorj: Look at these BPSPX and BPCOMP charts that Eugene Kearney is using: stockcharts.com[h,a]daclyyay[de][pc10!c20][vc60][iLb14!Lp14,3,3]&pref=G stockcharts.com[r,a]daclyyay[de][pc10!c20][vc60][iLb14!Lp14,3,3!Ll14]&pref=G Conclusion: judging by RSI on both charts, both BPSPX and BPCOMP can go quite a bit higher. At the same time, VIX may hit around 20 and VXN around 40. If you look at NASI and NYSI (summation indices) their RSIs also suggest room to the upside. Of course, once we reach the top, the subsequent move down should be drastic as a result of the overvalued/overbought levels on both SPX and COMP but keep in mind the potential upside may be favored for the time being. Next week should give us key clues on the next market move given that SPX hit 1172 and COMP hit 1934 which are both important resistance levels.

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