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 : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (18558)	8/28/2004 12:20:43 PM
From: Kirk ©	Read Replies (1) \| Respond to of 19219

"The stock market is now in the early stages of significant upside advance which will carry over into early spring of 2006" Congratulations on your Barron's quote! As I wrote in da cheif's forum... "My hunch is a major top will come when bears capitulate and we get 90% sentiment levels on this chart" Chart: home.netcom.com Right now I think the data supports a Major Bottom is in. If you look at that chart, you can see sentiment movement and bottoms looked quite similar to the 2002 bottom and March 2003 test. The past year has been much like the market making a high in late 2002 after "the October bottom" then testing that low in March of 2003. I think we need the NASDAQ to get through the blue resistance line on this chart stockcharts.com[l,a]dacayyay[d20020101,20041231][df][pa1890!b200!f][vc60][iUb21!Lc20]&pref=G to return it to support rather than resistance. RSI, CMF and sentiment are correctly alligned to help cut through that resistance like a knife through hot butter... but it has to do it first. My guess is it will do this when Bush gets a kick from the convention and oil crashes through its $42.50 red resistance level here stockcharts.com[l,a]daclyyay[d19980601,20061231][pa25!a42.5!f][vc60]&pref=G next week. It looks like the SPX has already gone through resistance stockcharts.com[l,a]dacayyay[d20030901,20041231][pb50!a1080!f][vc60]&r=4994 so I think we are on our way and need the Nasdaq to confirm. Kirk

To: J.T. who wrote (18558)	8/28/2004 1:01:45 PM
From: dvdw©	Read Replies (1) \| Respond to of 19219

Hi J T let me also congratulate you on Barrons. While I love the surmise I am doubting we'll see it anytime soon. I am looking for a decoupling of stocks and the general indexes. Meaning I think we'll begin to see certain stocks break away from their groups and begin to show their leadership...or should I say sponsorship post rinse, while the greater goal will be to continue to maintain the market indexes in a narrower range where consensus keeps changing. The Wall of worry is still being built....volume has become captive to program trading goals. Hence traders not associated with the program are sitting on the sidelines, cash gathering dust. Investors are accumulating...but this accumulation is positioning against inevitable outcomes. The political background is confusing which serves the systems interests and I see no reason for the system to pull the plug on this advantage. Capital rotations are well underway, hence we'll see a muddled performance by the indexes but certain trees in these forests will begin to separate, rinse cycles applied to greater growth, deteriorate rapidly, as the laws of diminishing returns become clear. Having said this; I would prefer your surmise.