IT buy signal

ignoring the fundys and gloomying earnings season, one pretty darn reliable chart in my arsenal (there's plenty of other TA charts that support) suggests reward/risk is very favorable. VST, ideally some backing/filling 1st into Wed/Thurs....I do think that 1170 gets tested here in the coming several days followed by a bounce and 1 more possible downwave....

What is the mystery indicator ? Can you posty how it worked in the 2000-2003 decline ? I do think we're near some sort of a low with a relief move up. I'm a bit less bearish then I was a few days ago. Then again I can be wrong and we're going into freefall, like I thought originaly But I've decided not to bet on that for now. There is a lot of fear in the market and with the quarter end book clearing and deleveraging under way, we should start getting some relief after its over, IMO. Nothing spectacular, just some kind of slow grind up as selling pressure drops. The ban on financial shorts may be screwing the internals picture into positive divergences, though.

Edited by ogm, 29 September 2008 - 05:40 AM.

Lol.. sorry, its NYUD ... I'm was barely awake and didn't see the label

Edited by ogm, 29 September 2008 - 06:20 AM.

ogm not exactly NYUD but that's the input used to generate the oscillator.....just think of it as another volatility indicator here it is again longer-term with NYSE plotting instead of SPX

Edited by marketneutral, 29 September 2008 - 07:35 AM.

Longer term Stochastic, too has turned back up after a buy. That's usually good for a rally too. But first it has to stop going down.