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Strategies & Market Trends : News Links and Chart Links
SPXL 214.54+2.3%4:00 PM EST
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To: Chris McConnel who wrote (6257)3/4/2003 5:04:02 PM
From: Return to Sender  Read Replies (1) of 29604
 
Thanks Chris! Actually looking back at the data provided by Yahoo on the Trin5 it only came very close to 9.0 at the end of December:

table.finance.yahoo.com^sti.n&g=d

With this particular indicator close may be good enough. Or maybe not. Does anyone else remember the rally that took place at the beginning of this year? That was nice for the long investors. However as you pointed out early December was not a good reading, or result, for anyone buying because the Trin5 was high.

Many of the major indices have been trading in a very narrow range. Last week we got some very low readings on the equity only put to call ratio which was predictive of the current sell off but we have not exactly broken down yet technically:

stockcharts.com[h,a]dallyyay[dc][pi!d21,2!f][vc60][iLg]&pref=G

So I guess what I am saying is I think more volatility could lie ahead.

When we have this much down volume without the indices selling off any harder then couldn't we still head back up again soon? Anyway, that's what I am guessing. If we hit some lower Bollinger Bands in the morning I may pick up some long positions. I'm thinking short term only though until I see other sentiment indicators and technical indicators clearly helping to declare we have a bottom.

Any additional insight you want to share would be welcomed by me.

Thanks, RtS
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