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

To: Chris who wrote (12244)	7/19/2001 9:02:50 PM
From: TechTrader42	Respond to of 52237

The complacency indexes don't provide much insight into the market tonight. The Nasdaq CI ended the day at 33.5, up from 22.7 Wednesday. It reversed to the upside, but not from an extreme low point. The reversal is a buy signal, but I'd remain cautious, because the indicator could head back down. The S&P CI is at 21.8, down from Wednesday's 23.8. Big deal. It's still moving down, which is bearish. But it's in oversold territory, so there could be a reversal back up soon. All in all, the bias would seem to be bullish, since the Naz CI gave a buy signal and the S&P CI is in oversold territory. But I'll believe it when I see it (it being a genuine rally). I'm not exactly skeptical -- just cautious.