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Bear Market or Trading Range

 
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PostPosted: Sun Jan 06, 2008 2:59 pm    Post subject: Bear Market or Trading Range Reply with quote

The first chart shows the NYMO 20-day MA (blue line), which along with its MACD, suggests SPX can fall to a much lower low within a month or two. Also, NYSI above price chart is neutral. The second chart shows SPX closed below its 80-week MA, which it held throughout the bull market, over the past several years. However, short-term, i.e. early next week, SPX is severely oversold and may bounce.



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