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Strategies & Market Trends : News Links and Chart Links

SPXL 224.48

+0.4%

Dec 5 4:00 PM EST

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To: pallmer who wrote (10090)	3/17/2004 6:54:25 PM
From: Return to Sender	Read Replies (1) of 29601

Short term market timing for the SMH: investorshub.com I find these chart useful along with Les's data for predicting directional turns for the SMH and the NASDAQ by association. Even after today's rally it still has a 5 day sma over 1.0 for the total put to call ratio! That's a lot of potential short covering. Longer term though the market appears to have been undergoing a process of rotation out of technology into other sectors as can be seen in this set of charts and the following two posts: investorshub.com We could continue to rally now for a while until the market resets itself to short term overbought but there is a very real and perceptible change that has already taken place in the market these last few months. In my humble opinion from here on out we need to be aware that the next top for the market may be the last new high for a long while. In addition we may not get a new high at all in the technology related indices. Time will tell... <gg> RtS

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