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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Justa Werkenstiff who wrote (41246)3/16/2002 8:05:53 AM
From: Robin Plunder  Read Replies (1) of 99280
 
Justa, interesting chart of the SP500 and COT. If the Sp500 breaks down much more, one would think that it is signalling a return to the trendline from the early '90s, which would be a long way down.

The COT for the nasdaq and sp400 and russell 2000 are not nearly as negative as the SP500. Why would the professionals focus so much on the SP500 vs these other indexes?

This current rally does not seem to have much enthusiasm, but if one looks at a one year chart of the naz, it looks a little bit like the current rally is forming the left shoulder of an inverted head and shoulders. Or, alternatively, perhaps the rounded top from the October rally is really a complex head and shoulders, and this current rally is a 'reaction' to the decline from this head and shoulders, signalling a significant decline coming soon? I don't know, but we will probably find out before too long.

Robin
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