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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (17950)9/26/2003 10:12:27 AM
From: t2  Read Replies (1) of 19219
 
Saw a big drop in the Rydex Nova/Ursa ratio yesterday; the biggest one day jump I have seen in many weeks. It seems a lot of people got bearish yesterday..maybe too many for much significant downside from here.

Nova/Ursa was by far the most reliable indicator I had seen in the past few weeks (often did not trade with it, unfortunately).
Lets see if it continues to be reliable...market resuming higher within a day or so. The ratio has moved with about the 0.13 to 0.26 range over the past few weeks.

schaeffersresearch.com
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