PeakTrader.com Forum Index PeakTrader.com
Economics, Portfolio Optimization, and Technical Analysis
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 
Log inFast Charts

Short-Term Market Top?

 
Post new topic   Reply to topic     PeakTrader.com Forum Index -> Market Forecast
View previous topic :: View next topic  
Author Message
administrator
Site Admin


Joined: 28 Dec 2005
Posts: 11965

PostPosted: Fri Nov 28, 2008 5:48 pm    Post subject: Short-Term Market Top? Reply with quote

Normally, when NYMO is above 50, SPX is severely overbought, and when NYMO is below negative 50, SPX is severely oversold. However, NYMO has reached more extreme levels recently.

NYMO fell to negative 130 in October, then rose to 100 within a month, and then fell to negative 100, before the five-day rally began a week ago. Over the past five days, NYMO rose at a steep rate, to about 75.

Consequently, although SPX may rise to roughly 915 early next week (closed at 896), it may pullback towards 850 within two weeks, given NYMO's overbought condition. If a bear market rally is underway, then the pullback is a buy.

Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic     PeakTrader.com Forum Index -> Market Forecast All times are GMT - 8 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by PeakTrader 2.0.8 © 2001, 2002