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A look at the DJIA daily chart looks bearish to me On 9/15 we made an
intraday high of 11110. On 1/03 we had an outside day with an intra day high
of 11015.On 1/04 we made a higher high than on 1/03 of 11028 on lighter
volume than on 1/03. Looks south on Dow. The rally on the Dow of
approximately 1000 points from 7/28 to 9/06 started with the decline that
commenced on 9/15 that's why I went back to 9/15. We could not even achieve
the 9/15 level. The foregoing was strictly from chart inspection . My
indicators are not up to date.
Dom
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Saturday, January 13, 2001 11:07 AM
Subject: [RT] MKT - INDU
> Just wondering if anyone else has a take on this DJIA Diamond pattern? Is
> it still operative or has it expired? The NSync oscillator(a composite
> oscillator) suggests the best buys occur when the Daily and Weekly have
> dropped to the 20% level. Both are below 50% and headed down as of the
last
> few weeks. The Monthly crossed below 50% in Oct/November after many years
> above 50%. When the Daily and Weekly cross under the Monthly some serious
> price erosion occurs. This sort of has the feel that the year end rally
> started in October and has been peaking . The next post will look at the
> NYA net cumulative volume with respect to the DJIA.
>
>
> BobR
> http://www.oextrader.com/sigma_trader
>
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