scalf's 4-24-03 spx comments....k

[scalf]

[img]/forums/images/icons/laugh.gif[/img] note..scalf uses tecnical indicators, and sometimes astrology to predict market moves...these are not scientifically confirmed...

upon discussing general stock market trends with my old buddy ghostchaser (hedge fund manager); several points seemed obvious....

the spx has been rising , while vix has been decreasing (i.e. volatility down with generally increasing spot prices), and spx appears to be in high range...

weekly 5bar for vxn is very oversold at 8.51...

current rally from 843 appears to be forming wedge at 905, which has been a strong resistance point...

i suggest watching weekly macd histogram, with downturn this will strongly hint toward end of current rally and gr8 opportunity to short spx

the spx has been behaving as if it is range bound for some time; this does not appear like a typical market bottom to me..

above info is worth whatcha paid for it: nothing..lol

scalff still in scln, rmbs, cpn, mir, good luck all.... [img]/forums/images/icons/shocked.gif[/img] [img]/forums/images/icons/diamond.gif[/img]