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

To: Killswitch who wrote (14326)	8/19/2002 9:25:32 AM
From: High-Tech East	Read Replies (2) \| Respond to of 19219

<<Who do you believe regarding the 90% down/up days? Ned or Lowry?>> ... I almost never believe in any single opinion or conclusion ... I try to take all I read in mind, and draw my own conclusions ... ... while 90% up or down days have some importance, they are only one clue in a much larger puzzle - I have not paid too much attention to them ... I do track combined daily advancing volume for the NYSE, Nasdaq and AMEX against the S&P ... however, my biggest overall concern is the huge drop off in total volume since July 24 as the S&P has been rising steadily ... that is negative in my mind, and may point to the equity rally in this cycle already having reached its peak ... ... both the S&P and US Dollar Index futures are set-up to rally which is bullish ... on the other hand, all the major US indexes are testing their 50 DMA - important tests for equities ... ... other than that, I think equities will probably rally for one to three weeks ... then back to and through the July lows in September and October ... Ken Wilson note: nice rally in the US Dollar Index so far today ... now at 107.49, +.60