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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: bobby beara who wrote (33221)3/26/2002 10:03:25 PM
From: TechTrader42  Read Replies (1) of 52237
 
Bobby: A good answer. But in the Naz daily and weekly charts, I don't see the higher highs and higher lows that would indicate a sustained uptrend. Also, regarding the advance/declines and advance/decline volume, the McClellan summation oscillators, for issues and volume, give me some concern. In the weekly and daily charts of the Naz, I don't see a pattern of higher volume on up days. In the weekly chart, the high volume seems to have occurred in the strong downtrends. But I looked quickly just now, and I may be missing what you're seeing.

My bearish outlook at the moment is primarily based on sentiment indicators. Someone has said on this thread that sentiment indicators "don't work." I disagree completely with that. However, the put/call ratio has been difficult to interpret lately. Sentiment indicators based on options volatility have been more clear. Right now they're saying overbought. That doesn't mean the market will drop, of course. I'm just explaining my own outlook.

You're darned right in suggesting my outlook could be wrong. I'm not a great believer in right or wrong when it comes to the market. I'm a believer in using stops and being ready for any contingency.
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