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 : Group Theories -- Ignore unavailable to you. Want to Upgrade?

To: macavity who wrote (793)	11/5/2003 11:53:36 AM
From: macavity	Respond to of 1017

Intraday : US Equity Indices. ST_PVTLOWS have been breached. However ST2_TRENDOSCILLATORS are o/sold and there is a likelihood that we rally intraday from here. ST1_TRENDSTRENGTH is now effectively zero for the $SPX and weak bullish for $NDX. [Famous last words] Due to the weakness of ST1_TRENDSTRENGTH I feel it likely that the short-term top is in and that we will not re-test the highs - 1060 - from these levels. We would need to retreat lower first for a successful rally, or move sideways for the coming 3 - 5 days. Next stop I reckon will be EMA55, familiar support. $SPX~1027/6 $NDX~1370/65 N.B If this is an ST top then this rally from EMA55 on DAILY charts would have taken just 6 days. The one before took 11 and before that 23 days. Rallies are getting weaker and weaker. This is no real (new) issue as it is simply a manifestation of the bearish momentum divergence that has been with this rally for the past 4 months. [/Famous last words] Short NQ and talking my book - as usual! Will add to short if it rallies to my sell limit, Got my stops in! Fingers crossed! -macavity