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 : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Lachesis Atropos who wrote (37964)	8/8/2002 11:07:20 AM
From: Johnny Canuck	Respond to of 69211

hi Lawrence, It looks like you got your opening gap up on the SP500, but it stalled at the intra-day resistance level established at the end of July. I think the comment in the article is more applicable to the COMPX. Even on my system did not generate a buy for the current rally and is now not generating a sell either. Usually that means the index will follow the prevailing intra-day trend, but the last 2 weeks that has not been the case. The indicator for the number of stocks 1 STD below the 200 day SMA is back to 55 percent. As in September we can trade at this level for a few weeks before a resolution in the direction. The October rally may be the catalyst. We still need to get through mutual fund tax loss selling which must be completed before the end of August.