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Strategies & Market Trends : Complacency Indexes

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To: TechTrader42 who started this subject4/4/2002 4:04:02 PM
From: TechTrader42   of 1487
 
Here's where the indexes ended the day.

ST Naz CI: 37.733 39.295
MT Naz CI: 52.544 42.959
LT Naz CI: 85.104 82.095

ST S&P CI: 19.832 18.529
MT S&P CI: 32.787 35.129
LT S&P CI: 79.774 80.479

The S&P ST index hit 0 more than three times today, and that's one possible buy signal. It may or may not be good, depending on how resilient the market is. An end-of-day signal might be more reliable, but in this market, what's reliable? The Naz did not give a signal, but the indexes often travel together, so who knows?

Since the indexes ended off their intraday lows, it would have been nice to see them move higher than yesterday's. In some cases, they did, but whether significantly is another question. The point is that if they're not going to bottom out at the end of the day, near 0, a good alternative would be seeing them reverse to the upside from yesterday. But they didn't significantly.

Does this have anything to do with anything? Probably not. Well, maybe with solipsism, but that's about it, I reckon.

This thread is now monitored by lurking hierophants and their acolytes, so please bow or genuflect as you leave.
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