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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (47952)7/29/2002 2:40:52 AM
From: augieboo  Read Replies (2) of 209892
 
Mr. Freep, Sir:

AJTJ's point, with which I agree, (thus making him a genius), is that we can't have a good rally unless everybody goes along, and the NAZ just ain't ready to go to the party. And if all we're going to get is another 150 one-three day wonder, why bother calling it a rally? Why not just call it a chance to reposition some shorts?

Here are some ANNOTATED CHARTS to illustrate the point.

1. The VIX has reached September levels, that is true. But the VXN isn't even close. home.pacbell.net

2. There is just too much farking bullishness in both the COMP and the NDX.

home.pacbell.net

home.pacbell.net

3. The rate of New Lows on the NAZ simply does not compare to that in September:

Here is August-September: home.pacbell.net

Here is June-July: home.pacbell.net

Finally, the COMP chart looks like chit:
home.pacbell.net
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