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

To: 16yearcycle who wrote (13536)7/17/2002 10:51:20 PM
From: Zeev Hed  Read Replies (1) | Respond to of 19219
 
Eugene, what was and still is missing for a major bottom is massive capitulation, we have not had that by the indicators i have formed" to follow such a rare event. That is why right now, I am still looking at an anemic rally. If the momentum in the rally builds p and does not become extreme by itself, there will be no harm done in extending the expectation further to higher levels. A Capitulation is a rare event, but it is also a necessary event to start a solid lengthy rally. The reason is quite simple, capitulation takes out the "selling potential" at higher prices, without it, rallies are met by new waves of seller that have not yet "capitualted" (g).

Zeev



To: 16yearcycle who wrote (13536)7/17/2002 10:58:14 PM
From: bobby beara  Respond to of 19219
 
the nyse a/d line made a 3 year high only several weeks ago.

I've been as wrong as anyone thinking that the market was getting oversold and the sentiment was getting too bearish over the last year, but we had the mother of all bull markets that made bears into idiots for years on end.

Now the market may be giving a payback, kind of the inverse of the ipo's opening up 25-100pts. day in day out in 99.


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