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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (3902)	1/15/2005 10:00:44 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

That certainly supports the interpretation, and also if oil futures follow (or lead) the index, that will put further bearish pressure on the stock indices. The final straw will be rumblings from the Fed about inflation. T

To: Vendit™ who wrote (3902)	1/16/2005 12:47:40 AM
From: Walkingshadow	Respond to of 8752

Hi Reid, Excellent work. I notice also that there has been bearish divergence for about the last 6 weeks or so in QQQQ technically vs. price. Note that I set the relative strength to compare it with the $OIX: 139.142.147.218 But if you look at the chart of the $OIX, I don't see any evidence of bearish divergence, again supporting your interpretation. 139.142.147.218 So the oil (and probably natural gas, but I haven't looked) sectors are likely the only sectors worthy of long plays for a while. The indexes are very close to a good short entry. I haven't look at the precious metals sector either, but gold has taken about a 20% hit since the highs of November I believe. Maybe it is ready for a rally soon? Did you see anything there? T