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 : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (38549)	7/3/2001 8:35:18 PM
From: Dealer	Read Replies (1) \| Respond to of 65232

From: donald sew Tuesday, Jul 3, 2001 4:43 PM Stolen from another thread: JULY 3 INDEX UPDATE --------------------------- Short-term technical readings: DOW - upper midrange SPX - overbought region OEX - overbought region NAZ - upper midrange/borderline overbought NDX - upper midrange SOX - overbought region VIX - oversold region(inverse to market) 5 DAY TRIN - approx 5.5 Per my short-term technicals the overall market is in the overbought region. If the market was to move up from here, I would get CLASS 1 sell signals in 2 days, so there is not a whole lot of upside. Last FRI I got intraday CLASS 2 SELL signals and the intraday highs of last FRI have not yet been broken to the upside, so that is a hint that last FRI may have been a short-term peak. As mentioned recently, if the overall market continues down from here, without giving a CLASS 1 SELL signal, that would be a hint that this selloff could be fairly strong. Last FRI, the NAZ NET NEW HIGHs-LOWs was above 200 and yesterday it dropped to 36, and today its at 6. Granted that the 200 figure could have been skewed due to the RUT's rebalancing; regardless it is declining and if it continues to decline into negative territory - thats not a sign of market health. Over that last 3 days, there have been PLENTY of DOJI's/SPINNING TOPs/SMALL BODIES in the various indices. DOJIs/SPINNING TOPs are signs of indecision and commonly appear at pivot points. The NDX has an IMPERFECT TRI-STAR, which is a moderately reliable bearish reversal signal. I added another small USPIX(short-NDX)position in my personal mutual fund account where Im now about 90% cash. Only holding onto 1 small position in my trading account, also about 90% cash. Im contemplating long positions in either the OSX(oil drillers) or the XAU(gold miners). For now, Im leaning more towards the oil drillers for a short-term pop. Have a happy 4th of JULY!!