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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: chainik who wrote (130444)	3/8/2006 6:39:24 PM
From: Shack	Read Replies (4) \| Respond to of 209892

You mean switch to the bearish camp intermediate to long term? As I've stated a few times, for me the $SPX would have to close below 1248, the COMP below 2200. The last time I checked, both these indices are still within spitting distance of 5 year highs. This market still looks very healthy to me. Such oversold readings as we got today should not happen in a healthy market, I don't understand this comment, how can the SPX be deeply oversold yet be only 15 points or so from 5 year highs? You looking at a 5-minute chart or something?-g/ng