Posted by Nikko_thyme on Friday, July 19, 2002 - 3:11 pm:
Chat Notes: 7/19 1:30 PM
Weekly/Monthly Signals: Are lining up as CLASS 1 BUY signals.
Daily Signals: (INTRADAY)
DOW: OVERSOLD, nearing CLASS 2 BUY
SOX: OVERSOLD
NAZ, NDX: LOWER MIDRANGE
VIX, VXN: OVERSOLD
USD: Had a CLASS 1 BUY several days ago, which produced a small
bounce, but was a poor response. Donald thinks the USD looks sick.
If the market was to continue down Donald's signals may hit the CLASS
1 BUY area by Monday-Tuesday. Donald is holding his short positions
over the weekend in anticipation of more down, where the Friday/Monday
effect may occur. (That is when Mon. is flat or down, following a down
Friday.)
Donald is expecting a rally cycle of 21-34 days. If the market rallies
up the expected 18-20%
Donald thinks the market could sell off again, and make lower lows.
Donald noted that a bottom will likely be formed when there is selling
across all indices together, not during sector rotation.
The new indicator had a reading of 3.75 Bar's, which is close to the
reading which occurred in September 2001. |
