AI
Wednesday, July 24, 2002 12:55:39 AM
My Wow NYA and COMPX “End of Day” Charts…
My Wow “End of Day” NYA (NYSE Comp) Daily Semi-log Chart
Today’s decline found support in the area of the 1997 Feb and March highs. Both my sht/med and med/lng oscillators are in extreme oversold ranges. Ranges only seen at the 1987 correction low, the 1998 correction low, the April and Sept 2001 lows. My DirMov indicator is clearly in extreme oversold territory while my stochastic is pegged in oversold territory as well. The volume over the last few days indicates accumulation in progress. This chart is signaling a NYA low is very close. We may have seen it today.
My Wow “End of Day” COMPX (NASDAQ Comp) Daily Semi-log Chart
The Naz chart is not pegging the indicators like the NYA chart is, but it to has signs that a bottom was put in place today or is “very” near. While my oscillators are not providing much direction, my stochastic indicator is in the oversold range, my DirMov indicator is in the oversold range. The price action found support just above the April 1997 lows and just above the long-term 1997 adjusted rising support line. The volume is less conclusive than the NYA, but it also suggests accumulation occurred during the drops over the last few trading days. This chart is not as definitive as the NYA chart above, but it supports a COMPX low is close.
My Wow “End of Day” NYA (NYSE Comp) Daily Semi-log Chart
Today’s decline found support in the area of the 1997 Feb and March highs. Both my sht/med and med/lng oscillators are in extreme oversold ranges. Ranges only seen at the 1987 correction low, the 1998 correction low, the April and Sept 2001 lows. My DirMov indicator is clearly in extreme oversold territory while my stochastic is pegged in oversold territory as well. The volume over the last few days indicates accumulation in progress. This chart is signaling a NYA low is very close. We may have seen it today.
My Wow “End of Day” COMPX (NASDAQ Comp) Daily Semi-log Chart
The Naz chart is not pegging the indicators like the NYA chart is, but it to has signs that a bottom was put in place today or is “very” near. While my oscillators are not providing much direction, my stochastic indicator is in the oversold range, my DirMov indicator is in the oversold range. The price action found support just above the April 1997 lows and just above the long-term 1997 adjusted rising support line. The volume is less conclusive than the NYA, but it also suggests accumulation occurred during the drops over the last few trading days. This chart is not as definitive as the NYA chart above, but it supports a COMPX low is close.
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