For The Gamblers ...
Posted 28 December 2006 - 02:48 PM
Posted 28 December 2006 - 03:24 PM
Sentiment trader has a model (STEM.MR) which is a short term indicator. It does a decent job of spotting extremes. It hit a multi month high this morning for nyse and nasdaq. This indicator fluctuates daily and is for short term trading, but today's value went off the map for multi-month period.
I think my RSI2 and RSI6 signals are about to kick into a sell again for dow. With CPCE at .55 right now, that supports some sort of stall in the advance.
But I think many are looking for that final x-mas rally going into new years, so piling in at the moment. Its a toss.