actio-et-reactio
Balance is but a brief transition between extremes.
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Wednesday, June 12, 2002
So the NDX lows were tested...
Now what? The NDX put in an ever so slightly lower low relative to September, which to its credit was accompanied by a slightly *higher* RSI and as of today on the weekly chart, a slightly higher Wm%R.
Like many psychological goals, this one (testing prior significant lows) leaves a taste of dust, a sort of lack of fulfillment, in terms of sentiment. It's just *too* technical. It may produce a rally, but I'm not convinced the NDX, nor the market, is through with making lows. Note that niether the SPX nor the INDU test those lows... not that they must, but again, there is a lack of closure, something left undone, about The Big Picture.
Labels: market-calls-dated
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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