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Strategies & Market Trends : Stochastics

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To: Copeland who wrote (880)11/4/1998 7:16:00 PM
From: Copeland  Read Replies (1) of 927
 
Killed the bird and went back to cold, and reliable technicals.

Stochastics and RSI both give sell signals on the S&P 500 after
today's action -- support at 1050.

Same signal for NYSE Composite at 551 -- support at 520.

NASDAQ Composite is getting there.

YHOO, and the Internet trash stocks are breaking new highs.

Fund managers on CNN and CNBC warning about buying into the market
right now.

And the ultimate contrarian indicator, Mom, is thinking the
stock market is going way, way higher.

We're in for some re-tracement. Hopefully, if the Fed declines
to touch interest rates in their November meeting, that re-tracement
might span into another drop after expiration.

Best of luck all.
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