The OEX... gasp! Message Board

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Strategies & Market Trends : The OEX... gasp!

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To: Jerry Rosenberg who wrote (188)	12/11/1996 11:09:00 PM
From: Stuart Briscoe	of 658

TA on the OEX shows stochastics moving down through it's moving avg. on a 1 and 2 day chart. The angle downward is pretty steep, so I think the momentum would indicate selling pressure for a few sessions. I would have to see how it breaks through various resistance levels to guage when to buy calls for any bounce. I'll be looking to the bonds for the best indicator of continued selling pressures. As long as yields head up the stock market will not be in a broad buying mood. Couple that with end of year profit taking and we could see those several down sessions Terry Bedford forecast.

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