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Strategies & Market Trends : Group Theories
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To: macavity who wrote (752)10/18/2003 3:51:57 AM
From: macavity  Read Replies (1) of 1017
 
ST Outlook : US Market Indices.

ST Outlook: BEARISH from NEUTRAL
BEARISH while below ST_PVTHIGHS

ST_PIVOTCHARTS:BEAR
ST_MOMENTUM:BEAR
ST_TRENDOSCILLATORS:O/Bt

ST_CHARTS:


	MO	PVT	PVTHIGH	PVTLOW
$SPX	BEAR	BEAR	1051.90	1036.57
$OEX	BEAR	BEAR	523.94 	516.73
$COMP	BEAR	BEAR	1950.41	1910.24
$NDX	BEAR	BEAR	1426.71	1392.08
$INDU	BEAR	BEAR	9815.79	9701.72



Looks like we have/had an ST top.
While we stay below ST_PVTHIGHS all failed intraday rallys should be sold.

Intraday:
We are now o/sold in ST2_TRENDOSCILLATORS (Hourly Charts). The ST1_TREND is BEARISH, but not strongly so.
Due to the o/sold nature of the intra-day charts relative to the trend's strength, an intra-day rally is a distinct possiblity, especially as we have good support in the ESZ3=1037/4; NQZ3=1398/3 region.
The IT_PVTLOWS are also not too far below where we currently are.

Short NQZ3 [Short Term Chart Trade]

-macavity
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