Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 671.91

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Nov 14 4:00 PM EST

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To: Gary105 who wrote (32486)	5/20/2012 5:45:22 PM
From: GROUND ZERO™	1 Recommendation Read Replies (2) of 218833

Could be, but it looks incredibly weak, especially that it has become so oversold... just a normal oversold condition should typically rally this market, bus since it is so extremely oversold, this means that the weakness is more serious than just a standard pull back... according to Carl Swenlin, a highly respected technician, because of this severe weakness the correction low is still several weeks away... I think he's right... Carl is one guy who holds my attention... He says: While oversold indicators often signal final price lows for a correction, extremely oversold readings are a sign that the price low for the correction probably won't arrive until weeks after the extreme indicator lows. blogs.decisionpoint.com GZ

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