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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: 16yearcycle who wrote (41291)3/16/2002 8:58:23 PM
From: Justa Werkenstiff  Read Replies (3) of 99280
 
Gene: Re: "All I can say is that this is what my favored signals suggest, and I can clearly see that most of the ta suggests we are already overbought."

You have some huge sentiment hurdles to overcome for your scenario to pan out. Investor's Intelligence, AIII poll, the 10 DMA VIX, the $BP#s, Rydex numbers and COTs are all decidedly bearish and are at levels that suggest a change in trend can come at any time. It seems that everyone who is bullish is in the market. It seems that pullbacks are not greeted with fear. The 4% pullback this week in the Nasdaq was a yawner.

I note, with interest, the failure of the Nasdaq or NDX to come come as close to their respective highs as the SPX with the VXN and QQV and VIX trending lower and lower and lower.

An upthrust may happen but betting on that is the equivalent of me, Mr. Short now <g>, remaining short and looking for more with indicators at the other extreme.
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