AI
Sunday, May 29, 2005 6:05:29 PM
BW, thanks for the in dept market review. Your opinion fits in very well with these charts. Note the similarity in TA indicators between 08-28-00 and last Friday. Negative divergence on the weekly charts, resistance straight ahead and negative divergence in volume. NDX is the leader on testing resistance so will be watching that one closely.
Waiting to see if the French EC vote becomes an 'event' to run the dollar up and markets down. On the other hand the markets may pull back during the middle of bull flags followed by a final move to test the resistance line. So if that is the case I will try to be ready to witch to UOPIX. Current position 75% USPIX and 25% URPIX. XE
Note: We have been reading that the NYA has been lagging and that institutions are light buyers. Maybe the NYA chart is in the process of forming the right shoulder. As you indicated BW, next week is going to be very interesting indeed.
Waiting to see if the French EC vote becomes an 'event' to run the dollar up and markets down. On the other hand the markets may pull back during the middle of bull flags followed by a final move to test the resistance line. So if that is the case I will try to be ready to witch to UOPIX. Current position 75% USPIX and 25% URPIX. XE
Note: We have been reading that the NYA has been lagging and that institutions are light buyers. Maybe the NYA chart is in the process of forming the right shoulder. As you indicated BW, next week is going to be very interesting indeed.
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
