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Strategies & Market Trends : News Links and Chart Links

SPXL 224.52

+0.2%

Nov 12 4:00 PM EST

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To: The Freep who wrote (12104)	4/30/2005 7:15:49 PM
From: Les H	Read Replies (1) of 29595

"do you recall another time when the "phase change" of the market toggled back and forth for 7 straight days?" I don't recall seeing this occur so many times on consecutive days. It's not uncommon to see a phase change fail at least once (i.e., in a retest of the bottom). As long as the market log signals are oversold, another UP phase change should occur that signals a new uptrend. "Is that a record? And more to the point, have prior occurrences of such rapid oscillations had ANY meaning at all?" I saw similar series of whipsaws in the consolidation range from 1170 to 1200 several months ago. The market became oversold and overbought within a historically small range of 20 to 30 SPX points. A similar situation seems to be occurring now with the range between 1135 and 1165. The fluctuations have allowed the oversold condition to be worked off without a lot of movement higher. The market log is now neutral, and move toward the higher end of the range would push it toward overbought and ripe for a reversal, perhaps for a move down below 1135.

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