Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Square_Dealings who wrote (40495)	1/9/2001 7:13:04 PM
From: donald sew	Read Replies (1) \| Respond to of 42787

JAN 9 INDEX UPDATE ---------------------------- Short-term technical readings: DOW - oversold region/boderline CLASS 2 BUY SPX - lower midrange OEX - lower midrange NAZ - midrange NDX - midrange VIX - midrange(inverse to market) PUT:CALL RATIO - .89 5-DAY TRIN - 6.64 Per my short-term technicals the overall market is in the lower midrange/midrange and if the market was to move/continue up I would get CLASS SELL signals in 3-5 days, so there is significant upside room. On the other hand if the market was to move/continue down, I would get CLASS BUY signals in 2-3 days. Many, including myself, suspected that there NAZ/NDX may have moved up strong today, unfortunately it was only up slightly. Some may already be getting a little bearish(short-term) since the market did not move up strong; however Im more inclined that the NAZ/NDX has a better chance of continuing to move up than reverse downwards right from here. One reason I feel that way is that the market internals are not deteriorating and actually improved today for the NAZ. The more important NAZ sub-indices like the SOX and the BTK did not deteriorate. Subjectively, this could just be - "MARKET CLIMBs the WALL of WORRY" rather than bearish hints. If the market internals did deteriorate - would have been a different story. The PUT:CALL RATIO hit .89 which is quite high. Not saying that it cant go higher, but readings this high are commonly short-term hints that upward movement/reversal is nearby. The 5-DAY TRIN again was above 6.00, and today was the 7th day in a row with a reading above 1.00. Since JAN 1 1999, 7 days in a row over 1.00 has been the maximum. Granted that I did not extend the research during bear market years(I was getting a headache looking at all those numbers), nevertheless feel that such has at least some merit. I do want to add that after the 7-DAYs in a row does not guarantee a signifivant rally, but does hint that at least some sort of a bounce should start within the next 2 days(WED/THUR), and the bounce could be strong.