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Strategies & Market Trends : Complacency Indexes

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To: Monty Lenard who wrote (996)	4/25/2002 10:17:52 AM
From: TechTrader42	Read Replies (1) of 1487

There were intraday buy signals for the S&P, when the ST CI reversed off its lows right around 0. But intraday signals aren't all that reliable, or at least they're for quick trades. As I've said, it would be better to see a close near 0. Another problem is the fact that the Dow broke under the 200 SMA. It didn't go far under the MA, but support has been penetrated. That means that while there will be the usual effort at a bounce near the 200, it could fail. But it's all speculation. Yer on yer own in this nasty business. They's out to get yer cash. So, in short, I'd like to see a close near 0 for the ST S&P CI -- and if that doesn't happen, a strong reversal to the upside with the CI. Even if it did close above yesterday's value, it'd head back toward 0 at some point. That 0 is like a savory truffle to the sensitive snouts of the market's pigs. ST Naz CI: 27.134 62.348 MT Naz CI: 22.057 50.682 LT Naz CI: 64.098 77.283 ST S&P CI: 7.879 17.528 MT S&P CI: 7.662 16.993 LT S&P CI: 57.466 65.520

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