The market was able to withstand an attempted afternoon sell off today and closed on its highs for a change. Today’s action had the major indices all closing at 6 day closing highs. Additionally the Dow and S&P 500 were able to close above the intraday resistance of the last three sessions. If I had [...]
Posted by 30 March 2005
Too Early to Rally?
Posted by 29 March 2005
Time to Whip Out T2108
Worden has an indicator called T2108 which plots the percentage of stocks above their 40-day moving averages. In effect it works as an overbought/oversold indicator for the market. This is an indicator that Duru and I like to check when we get strong moves in the market. I was just instant messaging with him about [...]
Posted by 29 March 2005
Now That’s What I’m Talking About (Almost)
Well we finally got some follow through, although I suspect it was in the opposite direction than most people wanted to see. And that’s exactly why I think it’s necessary for the market to break down. There’s still a good amount of complacency that needs to be wiped out. (Easy for me to say as [...]
Posted by 28 March 2005
