Zeev, "we are very overbought short term". OK. Certainly has been a lot of indiscriminate buying in the last week. I know what overbought/sold means intuitively but have been looking for a way to measure it. I thought that that was what RSI was for. Just looked at the nasdaq chart and RSI is 50, neutral. Wouldn't it have to get above 80 to be overbought? Anyway, what do you use to determine overbought and oversold? TIA.
I pretty much have a similar gameplan. Strong opening on Monday followed by a retrench to the 50 SMA +/-10 points and then off to the races. IMO that could happen as early as Wednesday AH but at the latest when INTC will anounce the week after.
BTW, INTC has been held back by the powers to be, even underperforming the SOX. I believe we could see some very nice gains in this one, once they let it run.
Zeev, now that april 6 has gone by. Have we made a local low ? or Should we still wait for some retracment and/ or fall into gap ? Are your targets date/time based or naz price level ? Also remeber this is a short wk and volume proly very lite. thx for your insights..
2nd. Q: do you still expect a touch closer to 2088 before coming down a tinch below 2000 ?
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