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Strategies & Market Trends : Classic TA Workplace

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To: skinowski who wrote (127748)	1/6/2006 2:42:54 PM
From: the-phoenix	Read Replies (4) of 209892

$NDX has its longest weekly candle in three years, in a short week no less: stockcharts.com[w,a]wacannay[df][pf]&pref=G What does it mean? This feels more like the start of a 3 up than a 5, either that or we are in for one helk of a 5. OTOH - I've been doing some work lately charting the ratio of $NDX to $SPX. Seems to be a correlation to inflection points WRT market direction. The current level 1.35 or a bit above, has marked market short-term tops six out of nine times in the past two years, with only one truly spectacular failure in Oct. 04: stockcharts.com[w,a]wacannay[de][pa1.35!f]&pref=G

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