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Web of Finance
1220 hits
| Apr 14, 2004 1:12 am |
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re: VXO and P/C Ratio suggest a rally could be close |
Steven Poser
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Melanie - Using a 50-day m.a. to signal oversold on VXO is relevant if this is still a bull market. If a major top is in, then this would be a major sell signal. I am not suggesting that it is a major sell signal, but it is definitely something one must be aware of. Personally, I have been looking for a drop to 1126.66 in the S&P 500 and then expect a small new high. However, the odds are far greater for a move below 1,000 in the next six months in the S&P 500 than a move above 1,200 in my opinion.
Steven Poser, http://www.poserglobal.com
> Melanie Hollands wrote:
> Looking at the VXO and the Put / Call ratio suggests that we could be close to a rally.
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>Once again the VXO has just signaled a buy signal by trading back above the 50 day MA. It might be a few days early, but a tradeable rally is coming. The track record of the VXO is nothing short of amazing.
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>The Put/Call ratio also suggests that selling exhaustion coming - range of 83- 1.19 today.
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>On top of the spiking VXO and high Put/Call, we're getting very close to another oversold indicator. We're currently having a > 87% down day. I understand that 90% down days are rare and signal an oversold market.
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>Trin at 1.24 also confirming... I think I'm getting ready to do some buying.
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>Cheers
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>Melanie 
Private Reply to Steven Poser (new win) |
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