Complacency Indexes Message Board

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Strategies & Market Trends : Complacency Indexes

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To: TechTrader42 who started this subject	4/29/2002 11:04:09 AM
From: TechTrader42	Read Replies (1) of 1487

The Naz has moved into oversold territory in the short term: ST Naz CI: 21.341 30.945 MT Naz CI: 21.341 25.959 LT Naz CI: 61.929 65.525 ST S&P CI: 4.423 1.916 MT S&P CI: 4.423 1.916 LT S&P CI: 43.982 47.783 The Naz ST CI hasn't hit 0 yet, though, and sometimes the biggest moves occur near the extremes in sentiment. 1646 is one possible support level for the Naz. Then the mid-1500s (the years of Elizabeth I, ya know). After that, there are always the Sept. lows. But right now, the indexes are trying to rise off oversold levels, even though support levels have failed miserably. Interesting upside-down cup & handle-type formation in COMPX's daily chart, from end of Feb. to the present. Lower highs and lower lows, too. What's more, the LT CI for the Naz is still pretty high, in the 60s. But the charts are irrelevant to believers, so we won't look at them.

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