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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Paxb2u who wrote (5764)	10/7/1998 4:35:00 PM
From: donald sew	Respond to of 44573

Peter, >>>>>> Since your analysis is based on the DOW, and todays downward action was masked by the DOWs apparent performance, does this affect your technicals at all?? In other words, the S&P was off worse than the DOW and the normal relativity between the DOW and the S&P didn't hold today. <<<<<<<<<< Most of the indexes, except for the DOW and OEX, are now CLASS BUYS, some CLASS 1s,some CLASS 2s. In light of that these indexes may pop up tomorrow since many are so oversold. My short-term technicals on the DOW are still in the mid-range around 30, so it could also pop to the upside if the oversold indexes pop tomorrow. The market sold off the NAZ and the big NAZ stocks, so now the only stocks which up are some of the DOW and a few others in the OEX. So there are less and less safe stocks in the market - ANOTHER BUBBLE IN THE MAKING. I would not be surprised if the the DOW rose 150-250 points tomorrow, which would only intensify the BUBBLE. Just that RUBBERBAND/GUITAR STRING stuff. But if we do rally hard tomorrow, watch out to the downside. On the other hand, we could also sell off more, but it is more likely that there will be a strong bounce. This bounce will not last long and may not even last by the close. Even if we close up strongly tomorrow - BUBBLE/ RUBBERBAND/ GUITAR STRING TIME. Please keep in mind that almost all the technicals/market internals got worse. BUBBLE, BUBBLE, BUBBLE, BUBBLE, BUBBLE, BUBBLE, BUBBLE GGGGGG SEEYA seeya