Thursday, May 13, 2004

Our price oscillator on the NDX (see intraday charts) hit 71% in the last 1/2 hour, which basically just reflects the steady uptrend off the low.  I find these extreme readings very helpful in ascertaining the larger trend...if we roll over from here in the NDX, it's a good sign that we're stuck either in a downtrend or choppy market.  However, if that index can hang tough here and either stay relatively flat or push higher, it gives more credence to the idea that we've put in a good low.  We saw such a thing at the March low, and I will be looking for it here too. 11:33:29 AM