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11/2/2005
Advancing volume indicators for both NASDAQ and NYSE look overbought. A correction in the market might be in the making for tomorrow. These indicators are usually rather reliable and working in favor about 70% of the time.
This is not a trade recommendation and no one should treat it as such.
11/3/2005
NASDAQ
2160.22
DJIA
10522.59
SP500
1219.94
Well, I didn't take into the account the government report that was due out today. The reading on productivity jumped to 4.1 annual rate vs. 2.6 expected rate. The surprisingly high reading led to a surge in the markets, thus making the indicator forecast incorrect. |