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Strategies & Market Trends : Paint The Table
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To: Jorj X Mckie who wrote (21543)3/22/2002 10:50:12 AM
From: John Pitera  Read Replies (1) of 23786
 
Tom, you may recall the little exchange I got sucked into with Brookliese back in late Feb and early March on SII.

I was suggesting that SII would probably not have a big pullback on March 1st, due to the very high RSI and MACD overbought readings. I thought it would probably have to work it's way higher in price while making lower highs on the RSI thus setting up the momentum divergences.

Message 17232325

ironically SII made it up to the 70 price target, 3 days ago while setting up the momentum divergence.

If SII has a sell off down to 62 or 60 it will have illustrated both sides of this approach, don't short charts with very strong momentum readings and sell charts that get bigger sell divergences occurring in them.
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