Posted by Nikko_thyme on Sunday, November 17, 2002 - 9:23 pm:
Chat Notes : 11/17/02 8:00 PM
Daily Signals :
DOW, SPX, OEX : OVERBOUGHT area, with Hanging Men
NAZ, NDX : Borderline CLASS 2 SELL
RUT : OVERBOUGHT, with an imperfect Shooting Star
SOX : OVERBOUGHT, with an imperfect Shooting Star, and imperfect
Dragonfly Doji
HUI : UPPER MIDRANGE, if the USD continues down it may help the
bullish case for gold.
USD : Has a minor bearish flag, and its previous Evening Star is still
intact.
If the market continues to move up the NAZ, and NDX may reach the
CLASS 1 SELL area by Mon, and the SPX, OEX by Tue. The Hanging Men,
Shooting Stars, and the market internals are hints that a pull back
may begin as soon as Mon.
Don is using the SPX as a proxy, and thinks it may not set a higher
high, while the NAZ and NDX may.
Donald sold 1/2 of his short position earlier in the week when the
market was down, and then averaged them back on as the market rallied
back up. His current position is about 45% short, and if CLASS 1 SELL
signals occur he will likely add shorts to it. |
