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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: macavity who wrote (12412)	5/27/2002 10:13:36 AM
From: High-Tech East	Read Replies (2) \| Respond to of 19219

... macavity ... gold ... the commercials are net short gold 88,643 contracts ... the only times they have been more net short were in early 1996 (net short 98,449 contracts) and the summer of 1993 (net short 113,071 contracts) ... in recent comparison, they were net long 67,526 contracts in the spring of 1999 ... ... public sentiment for gold is 85 - very bearish ... the 7-bar ADX is 53.5 - if it gets to 60, a change in trend should be just around the corner ... also, the stochastics are rolling over (bearish) ... HOWEVER, there is no daily price signal to sell (the trend is still up), so I am still watching ... ... the U.S. Dollar Index is exactly opposite, and set up to rally, BUT AGAIN, there is no daily buy signal (the trend is still down) ... I got burned jumping into the dollar (long) early on April 30, so I will try not to enter again without all the pieces ... ... I think what this says is that equities will rally in the relative short term ... a good time to lighten up on stocks, because what comes after the rally (if there is one - we could just go side ways) will not be pretty (at least in my opinion) ... ... significant recovery, even in Q1 and Q2 of 2003, is looking more and more questionable ... Ken Wilson