MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (15464)	12/10/2002 11:31:10 PM
From: bobby beara	Read Replies (1) of 19219

thanks for those #'s Jt, in the past i would say those are humungous out of whack and bullish, but the rydex #'s are going their own way and not in sync with some of the other sentiment indicators, while the rydex ratios are showing huge bearish sentiment the p/c ratios have just turned down from fairly bullish levels vtoreport.com and the surveys are showing huge bullish sentiment spreads. right now a lot of it indicators have turned down like $bp indexes and summation indexes, the nasdaq failed to hold it's breakout creating an island reversal, these are so common place in bear markets, as they are common place in bull markets when the market breaks support and the bears go short and get trapped, the bulls need to re-capture the 1420 level on the weekly nasdaq to keep the bull case intact. remember SI's favorite perma-bear who never said anything bullish even in jest during 3500 nasdaq up points from the 98 lows, was telling everybody to buy calls on LU during the blow-off phase of this rally, i think they call that the hindenberg signal.

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