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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: Clint E. who wrote (18357)	11/15/1998 4:39:00 PM
From: Johnny Canuck	Read Replies (2) of 68094

Hi Clint, >> I am disappointed at this thread. I stop posting for a couple of days >>to take care of a project at work and everybody goes on a vacation. I am afraid I won't be much of an active participant on this thread for the next couple of weeks. My professional and personal commitments are pretty pressing right now. This thread has alway been unusal in that there seems to be more lukers than posters. The thread made the top 120 most bookmarked threads, but you would not know it considering the total number of posters and the volume of messages. On the stock front the number of stocks that are one standard deviation below their 200 SMA stopped falling on Nov 6 with a value of 32 percent. This indicator has fallen consistently since the high of Oct 9 of 73 percent. We have been rising consistently for the last few days and were at 38 percent on Friday. The 200 SDMA is at 36 and the 40 SDMA is at 56. There is only minor resistance at 54 on the chart. It looks like the market may have topped for the time being and we are headed down. I saw a news storys on negative interest rates in Japan and the Japanese expansion package. I can't see it working as most governments are not willing to re-inflate their economies. The low interest rates have helped them get their deficits and debts under better control. I would think that it will take more than that to stop Japan's deflationary trend. It looks like they are trying to promote stablilty in Brazil too. It may be too little too late. In the intermediate term, it is my sense they we are headed into a mild recession. I'll try to drop in when I can. Regards Harry

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