The Daily Chartist: Keeping the Faith

Even though the market isn't behaving right now, the Chartist believes we will still see a decent rally before the end of the week. Have your say on our message board.

Author:: Helene Meisler
Publish date:: Oct 27, 1999 8:07 AM EDT

Oct. 27, 1999

With the market sitting down here in such an oversold condition, down days such as yesterday actually help lift the oscillator. The way the numbers work out, this can go on for several more days. In addition to the oversoldness in the market, we are nearing the end of the month, which typically sees some type of rally.

Technical Analysis: Join the discussion on our

TSC

message boards.

While the market really should be acting better than it is, for the reasons listed above -- as well as the better-acting financial stocks -- I continue to believe we will see a rally before the week is done.

New Highs and New Lows

Overbought/Oversold Oscillator

Cumulative Advance/Decline Line

Helene Meisler, based in Singapore, writes a technical analysis column on the U.S. equity markets on Tuesdays and Fridays, and updates her charts daily on TheStreet.com. Meisler trained at several Wall Street firms, including Goldman Sachs and Cowen, and has worked with the equity trading department at Cargill. At time of publication, she held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. She appreciates your feedback at

KPMHSM@aol.com.