Market Breadth Data******************************

Friday, February 29, 2008

A few charts to consider over the week-end.






Thursday, February 28, 2008

After the ES busted out of the smaller triangle,
a larger one comes into play.


Wednesday, February 27, 2008

And this is my modest contribution
to the Murrey Math revolution.




P.S. I'm especially proud of the color scheme.

Tuesday, February 26, 2008

A 60 degrees move, followed by a 45 degrees advance and entry into resistance zone on close to overbought readings.

I wonder what it all means....
but I'm sure the EW crowd will have the answer,

after the fact.


Monday, February 25, 2008

The SPX had a perfect 60 degree advance to match the improving barometer, but will soon face tough resistance.


Saturday, February 23, 2008

The chart below is not very different from the one I posted 2 days ago, and the SPX Barometer reading
is the same.

What changed, however, is the slope of
the barometer line.


Wednesday, February 20, 2008

A picture of the Dow, happily nesting within the triangle.


Tuesday, February 19, 2008

Not much to add today, except a reminder that, from a contrarian point of view, one of the most bullish things the market can do is to get oversold while moving sideways/up (remember to check the SPX Barometer above).


Friday, February 15, 2008

Today's recovery keeps the forecast alive, and the implications could be quite important.

If this doesn't continue to be the case, however, we'll simply switch to Plan B,
i.e. the Election Year Cycle, which has been showing a pretty good correlation in its own right.



Simply put, there is a 60 point air pocket below support.


Thursday, February 14, 2008

The look behind the curtain, the picture is rather ominous.


Wednesday, February 13, 2008

Tuesday, February 12, 2008

The triangle acted like a slingshot, and will likely propel
price to one of the resistance levels.

Monday, February 11, 2008

Let's not forget our friends Gold and the Euro.



Friday, February 08, 2008

A new market chapter in which:

- the Dow is caught flirting with important support level;

- the date of an upcoming CIT is revealed, and

- the author draws attention to his favorite indicator, aptly named "SPX Barometer" (above), which correctly called the usual pre-opex shenanigan's bluff.


Wednesday, February 06, 2008


The Dow, once again, finds itself in a precarious position.
So far, it has always managed to close above the upward sloping
lower trendline (on a weekly basis).

Tuesday, February 05, 2008


TA Classic: resistance, becoming support, turning into resistance again.

Monday, February 04, 2008

The key question of the week still remains unanswered.

Sunday, February 03, 2008


This chart was last updated on December 27th., and the idea was that the low of the swing may occur on February 1st. It did not factor-in any surprise Fed rate cuts, and in fact, the low coincided with day 39 of the downswing.

Using the same logic, the next low should occur on February 28th.

Saturday, February 02, 2008

The key question for next week is whether the previous resistance band can hold as support instead.



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