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Strategies & Market Trends : Complacency Indexes
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To: Monty Lenard who wrote (1304)5/20/2002 4:35:32 PM
From: TechTrader42  Read Replies (1) of 1487
 
The resistance level for the SPX wasn't hit before today's collapse -- the 200 SMA. I wonder whether it'll try for that on a bounce. The COMPX did come close to the 50, though.

Note that short-term and long-term MACD for the SPX are saying the opposite thing. The longer-term MACD might support a bullish argument.

Note, too, that the LT Naz CI's are in the midrange.

So I don't think it's a given either way. When is it?

In any case, the sell signal Friday was certainly worth a quick trade. Stops are the best defense against the CI's inclination to become worthless at times.
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