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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (16018)	5/17/2001 11:20:33 PM
From: Mark Johnson	Read Replies (4) \| Respond to of 30051

<< I still think that the pendulum is going to move from excess pessimism to excess optimism, and thus give us a relatively strong ride up>>> I swear it is INCREDIBLE what a difference 2 1/2 days make in Zeevs opinion....... From 5/15 Message 15805956 <<<<The Naz painted an awesome Gravestone Doji today, it does not really matter if the low was higher than yesterday's low, the Sox, by the way, made a gravestone doji as well. Add to that sentiment indicators that are bearish, the fast and slow MACD lines crossing over in both, RSI dropping under 50, VXN close to the January low of around 60, equity P/C ratio still very low, and you get yourself an environment for bearishness. The fact that the March 22nd (April 4th) low was a very poor bottom (lack of excess pessimism), indicates that there is a good chance that a "better" (and possibly lower) bottom will have to be formed before we move into bullish territory. Zeev >>>