Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 671.91

0.0%

Nov 14 4:00 PM EST

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To: Johnny Canuck who wrote (36491)	3/19/2002 5:05:59 AM
From: Johnny Canuck	Read Replies (1) of 67979

Number of stocks now 1 STD below their 200 SMA is 12.5 percent. It has not been this low since June 8,2001. We then proceeded to sell off for 3 months, reaching a true bottom in September. The true intermediate top was in May. Similar kind of signal in January of 2001 when the market sold off. Part of the reading could be due to the fact the market has been trapped in a range for a few months and the averages are starting to converge. The low VIX reading would confirm this. Caution is still advised here though.

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