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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: JR Wolansky who wrote (42621)	9/12/2005 11:19:18 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68598

The indicators I watch are giving a more mixed signal. The number of stocks one standard deviation above their 40 day MA and the number of stocks one standard deviation below their 200 day MA are in their mid-ranges. Also without INTC I don't expect the COMPX and NDX to go far. It reacted badly to their earnings update at a time which should be their strongest quarters. I do get the sense the market wants to be bullish though. Just look at the trading on Mondays in the absence of news. It tends to show the bias of traders. Traditionally it takes a week or two for Wallstreet traders to settle into a bias after returning from the labour day holidays. The market traditionally should rally, just to pull back in October (Black Tuesday jitters). Let's see how it plays out.