Barchart Market Momentum Index Chart - StockFetcher.com Stock Screener

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mystiq 650 posts msg #101057 - Ignore mystiq modified	6/4/2011 1:13:54 AM Extreme Momentum Readings This chart below provides the momentum of the market. I think of it as the rubber band effect. If the market selling momentum is strong enough then it pulls this indicator down to a level which it cannot go much further before it gives way and moves back a neutral or positive extreme level. This little hidden gem of an indicator can help time entry and exit points with ease once you understand it. Currently it�s telling us that a pause or bounce is likely to happen soon. BARCHART MARKET MOMENTUM http://www.stockfetcher.com/cgi-bin/popquote.pl?sym=^bcmm&id=7981256&period=default&did=9135 These panic indicators are looking ready for a bounce and I feel we could be nearing not a bounce but an intermediate bottom and higher prices going forward. But if we break strongly below this support level then all bets are off and much lower prices should occur. In short, this week�s sharp move lower has put the market in a short term oversold condition. Meaning, a bounce is very likely to take place within the next 1-3 sessions. With the masses selling all their positions in stocks and commodities it generally takes 1-3 days after a day like this for the selling pressure to dissipate and for value buyers to step back into the market providing support. I think both stocks and commodities will strengthen in the next few days and we will see if the market can get some traction and start a new rally. But until everyone has sold out of the market giving their shares to the big money (smart money) at a sharp discount I feel we have a rough road ahead. http://www.bigtrends.com/wp-content/uploads/2011/06/Chart2-4.jpg

StockFetcher Forums · General Discussion · Barchart Market Momentum Index Chart

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