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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (70619)	4/24/2005 6:55:56 PM
From: William H Huebl	Read Replies (1) \| Respond to of 94695

A couple of points here: 1, We have a 2 and 6 month RSI trend down on the INDU 30s. IMHO, we gotta break the 2 month to go much higher first (BWDIK?). RSI, of course, is price related. 2. On May 26th of last year, we had a situation not unlike what we had last Friday, April 21st; - volume volatilities (whatever THAT is) jumped and peaked in early June last year. To me that may be a measure of indecision in the markets. - but last year, the volatility jump was accompanied by a surge in postive volume (which makes the world go round) that was as sharp as the volatility jump, IMHO. That tells me that those favoring higher prices were clearly in control. At the same time, the intermediate downtrend in positive volume ratios clearly reversed... an indication that things were about to change for the better. - however, this year the situation seems different as there is a significant lag in positive volume response compared to a year ago and we have yet to break any positive volume ratio trend lines. What I read in this is (and this could easily change this week), without a "getting on the bandwagon" response by the trading public... this short lived bounce is sure to fail! Now if we do see some good, strong positive days this week, Mr. Market may well respond by moving higher... at least to the line of the "H&S" which is about 10, 425 on INDU-30s. But I wouldn't bet the farm on it!