[CANSLIM] S&P and the market

From: "Patrick Wahl" <pjwahl@attbi.com>
Subject: [CANSLIM] S&P and the market
Date: Mon, 15 Jul 2002 22:03:16 -0600

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For whatever this is worth, I did a quick examination of the S&P cash index over the 
last few years, looking for periods where the price was more than 100 points under 
the 50 day moving average.  Right now we are roughly 105 points under the 50 day.  
It has happened only 5 times since Jan. 1997, 4 of those since Oct. of 2000.  
Basically the market doesn't like to get stretched too far from a median level, like a 
moving average.  Each of the 5 times this has occurred, there has been a bounce, 
although in March of 2001, it was even more severely oversold before bouncing.  
Anyway, looks like we are due for a bounce in the next few weeks, if this pattern 
holds up.

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