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Strategies & Market Trends : Group Theories

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To: macavity who wrote (763)10/23/2003 3:32:59 AM
From: macavity  Read Replies (1) of 1017
 
ST Outlook : US Market Indices.

ST OUTLOOK: BEAR


MO PVT PVTHIGH PVTLOW
$SPX BEAR BEAR 1046.03 1028.39
$OEX BEAR BEAR 521.76 512.36
$COMP BEAR BEAR 1923.33 1897.36
$NDX BEAR BEAR 1404.05 1385.15
$INDU BEAR BEAR 9742.05 9580.24



Indices need to trade above TUESDAY's CLOSE (yesterday's TRUE HIGH due to the opening GAP) to turn charts positive.
My EOD system does not

I do not fancy the chances of that.

DAILY stochs indicate more room on the downside - this can be taken as a price decline or just milling araound.

NQs are at 1370/5 down 1.5%.

Intraday
Hourly stochs at yesterday's close where o/sold.
These could turn up during the day, but it is definitely something to wait for rather than anticipate.
If HOURLY stochs get o/bt it would be worth selling.

Short NQZ3

-macavity
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