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Strategies & Market Trends : Complacency Indexes

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To: Monty Lenard who wrote (1166)	5/6/2002 4:06:15 PM
From: TechTrader42	Read Replies (1) of 1487

The BKX leads the SPX down, ya know. The SPX has now broken under the 153.61 level from Feb. The Naz has been announcing its intentions lately by breaching support levels by just a small amount. The days after the failure at support haven't been good ones. The BKX has plunged back through the 50 SMA and is headed to the 200 SMA (848). In the weekly chart, the BKX is testing the 50. Also, in the weekly chart, there are several sell signals with MACD, stochastics (scholastics as someone called it on this thread today), and other oscillators. Anyway, more important is the failure of the SPX at the 1053.61 level, I think. With the CI's, the S&P ended the day oversold in the ST and MT. But it's not at 0 yet, and it breached support. So it looks dicey.

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