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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: drsvelte who wrote (24023)	6/2/2000 12:41:00 PM
From: Chris	Respond to of 42787

as bobby b. mentioned earlier to me, when the market is trending (as we are now), OB/OS have less effectiveness relative in a range-bounded market. right now, i would put more emphasis on momentum indicators.. before this rally, my stochastics (ob/os) worked much better. basically, i use different set of indicators depending on the market phase.

To: drsvelte who wrote (24023)	6/2/2000 12:46:00 PM
From: John T.	Read Replies (2) \| Respond to of 42787

The Nasdaq Composite (COMPQ) trin symbol is TRINQ (on eSignal). I'm measuring overbought and oversold on the 60-minute charts of the indexes. My MACD and RSI indicators are extremely oversold. Usually, this indicates that the market is ready to pull back. However, as you know, in a strongly trending market overbought/oversold indicators not good -- a strong trend will override momentum indicators. A good example would be March 17th. On that date the momentum indicators were extremely overbought, but the trend was so strong that the market continued to rally for several days. This is why I said that we need to see what happens during the rest of the day. If we rally hard to the close, then I would suspect further rally.