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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (4313)	12/7/2004 1:54:55 PM
From: Michael Watkins	Respond to of 12410

News? No idea. I think its something else myself. At the bare minimum, ADX showed NYA and COMPX in the stretched zone and there did not seem to be willingness to push them higher iwth conviction after that last big up day. I've been noting declining volume rising on NYSE for a few days here, new highs retreating on COMPX even as it pushed higher. trendvue.com NYSE internals Neither are dead yet, but the range tops are being broken one by one. YM closer to its low trendvue.com YM trendvue.com Nasdaq always overshoots. No surprise. trendvue.com ES - would like to see 1165 before rollover. Whether I get that or not who knows. But until price is back above this tall down bar, trading on the long side should be done with caution... I am still short ES from the bar after the top 5M bar on ES on Friday...

To: Gersh Avery who wrote (4313)	12/7/2004 2:12:01 PM
From: Chip McVickar	Read Replies (3) \| Respond to of 12410

IMO it's simple profit taking on a short term basis. Oil - gold - 10 year are all down These simultaneous keys are telling them to "sell out to the suckers..." shake the tree... change the trend to get your friends in at lower prices. This is a bull market until early 2005... Then we have to look around.