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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Eddy Blinker who wrote (83505)	11/5/2002 8:56:11 PM
From: Tom Pulley	Read Replies (4) \| Respond to of 99985

MDD/makebelieve-stab in the back -the handwriting of banks............Ok, what am I missing, what does that mean?? Nasdaq new highs dropped from 87 yesterday to 47 today: stockcharts.com[e,a]daclyyay[d20000101,20021105][pb50!b200][vc60][iLb7!La20,26,9!Uo22!Uk14][J6899978,Y]&pref=G And Nasdaq new lows dropped from 29 to 19: stockcharts.com[e,a]daclyyay[d20000101,20021105][pb50!b200][vc60][iUb7!Lo22][J6456050,Y]&pref=G The RSI-7 on the Nasdaq new lows is showing particularly overbought territory joining the StochRSI-22 which at a reading of 0 signals an early warning of overbought conditions. My timing model is going from 50% long to 100% cash on the open tomorrow. However, longer term it is still bullish and believe this signal is just indicating a possible short term correction. The put/call ratio is not in bearish territory at .77 though, so its hard to picture much of a move downward without putting that indicator back into bullish levels. Equity put/call is at .61 for those that follow it. I haven't got a correlation yet between equity put/call and market performance so I don't know if that is meaningful, but a number of people have indicated it is a better indicator than the overall put/call. If anyone has buy and sell signals based on equity put/call numbers I'm curious what numbers are significant in your experience. Tom