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Post# of 148479
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CaribbeanJim

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CaribbeanJim

Re: ajtj99 post# 79632

Saturday, 06/03/2006 9:28:57 PM

Saturday, June 03, 2006 9:28:57 PM

Post# of 148479
I'm trying to understand when the relative strength is going to improve on the Nasdaq relative to SP500 if the Internets and SOX are in major bear mode formation. The Internets double topped in Jan. and it is finding OBVIOUS resistance at the 50dema. The SOX shows a very well defined H&S formation that it broke down severly through in May. The SOX needs to get back above the 200dema if the Nasdaq has any chance.

That long red candle that formed a couple weeks ago on the SOX looks very bloody.



Jan 4 - We have transitioned into a bear market. Completely different rules apply.
May 23 - IMO, any price at/above this close makes a great Nasdaq/SP500 short.

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