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

To: Jerry Olson who wrote (12958)	1/16/1999 10:45:00 AM
From: SE	Read Replies (1) \| Respond to of 44573

OJ, Even though I am on a buy and long the S&P's, I am concerned on a longer term basis about the SPX, OEX and INDU. I too was checking them out this morning. Take a look at the daily INDU chart with a MACD at 12,26,9. WOW. What a bearish divergence that is set up. You can plainly see the bullish divergence from 9/1 to 10/8 and now a bearish from late Nov to early Jan. Not as apparent or pronounced on the OEX or SPX, but still there. I would take this as a longer term caution and make certain you are ready to turn on a dime. Of course if the divergences play out to the downside, P&F must follow for it to be real and damaging, but for now the divergences I think must signal caution with this bull run. Yes, those charts worry me..... -Scott