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Strategies & Market Trends : Group Theories

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To: macavity who started this subject	9/19/2004 7:19:49 AM
From: macavity	of 1017

The Intermediate Term (Stocks): LT_Lagging: Bearish to Neutral LT_Leading: Bullish => Sell at IT (o/bt) ; Buy at IT (o/sld) Quarterly Charts: Down There is a lot to indicate that the August bottom may have been a significant low, despite the Quarterly Charts turning negative for both Naz and Spoos. However, due to this fact and also to the fact that the LT trend is at best neutral, we should be alert to the fact that we could reverse at IT overbought levels. We are now approaching o/bt levels in $NDX & $COMPQ, and the DOW weekly chart has turned down. With us now at resistance in the downward channel formed by the lower highs and lows since Q1, there is a good possibility of a reversal here. If the Aug bottom was significant we should only retrace part of the 5-6 week rally. Also Breadth Oscillators are now at levels that have corresponded to past tops. So it is a matter of paying close attention here. Quarterly high levels are currently at $SPX= 1150.57 $NDX= 1523.48 These levels will change once September passes. -macavity

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