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Extreme Conflicting Indicators

 
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PostPosted: Sat Apr 21, 2007 6:55 pm    Post subject: Extreme Conflicting Indicators Reply with quote
Normally, NYSI bottoms around negative 500 within one year. Given NYSI is above 900, there may be a steep market pullback by mid-Jun. Also, the NYMO 50-day MA normally bottoms around at least negative 20. Moreover, short-term technical indicators (not shown) are severely overbought, which suggest at least a 20 point SPX pullback next week. However, the second chart shows the CPC 50-day MA is near its all-time high, which is extremely market bullish. It seems likely, SPX will pullback, perhaps to around 1,350, until intermediate-term indicators bottom, and then rally to new highs.



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