JEFF, JUSTA, AJTJ: Norm (on Market Swing) and Zeev are looking for possibly COMP 1600 before the current 2002 rally is over.
In order NOT to hit COMP 1600 in 2002, weekly COMP chart IMO must show that
(1) Full Sto turns down and crosses the red line
(2) Slow Sto turns sharply down and crosses the red line
(3) RSI goes below 50
stockcharts.com[r,a]whcaynay[de][pd20,2!f][iUi10,10!Uh5,5!Up14,3,3!Ub14][J8430730,Y]&pref=G
Also, weekly SPX chart IMO must show that
(4) Full Sto turns down and crosses the red line
(5) RSI goes below 45
stockcharts.com[r,a]whcaynay[de][pd20,2!f][iUi10,10!Uh5,5!Up14,3,3!Ub14]&pref=G
Until I see points (1)-(5) happen, I will be mindful of a possible rally continuing to COMP 1600 in 2002 (perhaps after some retrace).
Any thoughts, gentlemen? |
