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Strategies & Market Trends : Group Theories
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To: macavity who wrote (792)11/6/2003 7:48:53 AM
From: macavity  Read Replies (1) of 1017
 
ST Outlook: US Equity Indices.



ST Outlook: MIXED/BEAR vs. BULL/MIXED
BEARISH while below ST_PVTHIGHS



	MO	PVT	PVTHIGH	PVTLOW
$SPX	BEAR	BEAR	1054.54	1044.88
$OEX	#N/A	BEAR	521.96 	517.27
$COMP	#N/A	#N/A	1966.15	1938.22
$NDX	#N/A	#N/A	1437.85	1414.37
$INDU	#N/A	BEAR	9859.34	9778.31


So much for my Intra-day appraisal.

Now that DAILY charts are pointing down (unconfirmed by MO)
then we can look to sell (failed) rallies in hourly charts, or at resistance.

On ST1_Charts (78mins), $SPX bounced of EMA55 and looks as if it can retest the $SPX=1060 region.
Unsure if last hours move was a squeeze or not.
Guess we will find out today.

Intraday.
Stochastics are rising from o/sold.
There is a lot of upside 'room' to move in.
Yesterday's highs provide quite a good exit for any shorts.

I am flat having been stopped out - phew!

I am awaiting any failure in intraday charts below 1060 to sell. Else I will stand aside and leave this to the experts.

-macavity
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