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


To: Tiley who wrote (17927)10/9/1998 1:19:00 AM
From: Clint E.  Read Replies (1) | Respond to of 69811
 
Hi Manish;

>> A/D is still dismal and the P/C ratio has been ~1.0 for 3/4 days now.

You cannot use A/D # when we are down 100 points. What do you expect to see in A/D #? Instead, Look at the leaders and see if they are holding above 50 or 200 dmas, depending on how far into a correction they are........

>>>We need an external event to turn this market around. (Like AG cutting interest rates before the FOMC meeting).

I agree 100%.

Clint



To: Tiley who wrote (17927)10/9/1998 1:29:00 AM
From: Suresh  Respond to of 69811
 
Hi Manish,

>>P/C ratio has been ~1.0 for 3/4 days now

pay attention to change in Open interest.. not the trading volume. In the last few weeks difference in OI has increased approx 20% to the call side.

IMHO market needs liquidity and only time can heal that problem. All the news event(s) will be used by traders and not investors.

Later,

Suresh