Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Barbara Barry who wrote (17281)	4/25/1998 1:14:00 PM
From: FJV	Read Replies (2) of 94695

<<I don't think.I can see where Jerry Favors says gettting oversold(altough WE know it's not yet!)>> Take a look at the hourly SPX chart. You'll see oversold readings for the following indicators: CCI, ADX, stochastics, RSI, Williams,and momentum. IMO, on a VERY S/T basis, we are oversold. There is a good possiblity of a pop on Monday morning which should fail. I agree with Jerry Favors that next week's down draft will be a temporary trap for bears, that the first few weeks in May will LOOK like a resumption in the bull. When the Fed tightens in May, however, the ball game will be over for the bulls for quite some time. Of course, BWDIK. Franco

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