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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jack of All Trades who wrote (26915)	9/23/1999 7:49:00 PM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 99985

Jeffrey, I'd say that looks pretty extreme to me. I went back on my charts using 5 min and 60 TRIN and 1.8 is extreme (particularly intraday and not at open), at least for the length of history on my charts. Elder says you should "recalibrate TRIN" every 30 days anyway to pick out extreme points. FWIW, the DOW hit an RSI low which was lower than that of last year's crash and has only been exceeded twice in the last decade. RSI is not a timing tool, however, it indicates a severely oversold condition which makes the market ripe for reversal given the right catalyst. I would agree that the COMPX and the NDX have much more room to move, however, I don't buy the argument that SPX and DJIA have much farther to go. Matt