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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (15135)	7/16/2002 8:56:30 PM
From: Warpfactor	Read Replies (3) \| Respond to of 23153

Scott, pvz: <<...So while the end of day rally looks impressive on the charts, it had little impact on the McClellan indicators. And while this is an ideal “chart level” for the market to put in a near-term bottom, the McClellan indicators are telling me the danger is still high for the indices to decline further, unless we see strong positive breadth readings over the next few days...>> At the risk of appearing to be a closed-minded permabull, this article you reference was the stupidest thing I've read in, well, probably not too long. First of all, trying to put a downside "line of support" on the McLellan oscillator serves no practical purpose. Secondly, to call the action of this downside support "bearish" is is truly the hallmark of the clueless. We've discussed the McLellan oscillator ad nauseum on this thread, no need to go over the definition again. What we see now is that the NYSE McLellan oscillator has crossed over to severe levels of oversold: stockcharts.com[w,a]dhcayiay[de][pb19!b39!b21!c10!f][vc60][iut!Ub28!Lw14!Lc20!Lc5!Lh14,3!Lf20!Lk28]&pref=G The "ratio-adjusted" NYSE McLellan has slipped below the -50 level. This level has kicked off the three prior "meaningful" rallies that we've seen in the past 2 years. I suppose that further weakness to -60 or -70 is possible, but to plan for that with a VIX +40 is living on borrowed time. Anything to add pvz? If you are out there. Warp