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Strategies & Market Trends : Tech Stock Options

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To: ViperChick Secret Agent 006.9 who wrote (48444)7/25/1998 6:55:00 PM
From: ViperChick Secret Agent 006.9  Read Replies (1) of 58727
 
+James F. Hopkins (22283 )
From: +Thomas C
Saturday, Jul 25 1998 1:49PM ET
Reply # of 22328

Speaking of Divergences, did you notice that we have a TRIPLE bearish divergence on
the Nasdaq?(three price tops and three oscilator tops) Just look at the weekly MACD
Histogram.

A bearish divergence is severe enough and is the strongest sell signal in technical analysis
(according to Alexander Elder). But it looks like we have a triple setting up...

And it is interesting to note that at least on the DJIA in 82 we had a triple BULLISH
divergence that foresaw a massive surge to the upside..and hence this bull market...now
we have the opposite..time for a bear market?

Tom
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