3 replies to this topic

[eminimee]

either making a very strong move here back to the major downtrend line or it's going to turn down for another 50 points south.

http://stockcharts.com/c-sc/sc?s=$SOX&p=D&yr=2&mn=0&dy=0&i=p92735021460&a=93250638&r=4503.png

[Cirrus]

IMVHO the homebuilders are perhaps more important than the SOX right now if that's possible. They are a sentiment gauge of future LT rates, Fed policy, the US consumer and everything that's important. I watch the DJUSHB/basket of homebuilders almost hourly. I am short now and feel that the countertrend rally could be over. This is especailly the case in the context of LT rates which appear to be headed north. There's lots of optimism about the spring that IMO will not materialize and valuations in the sector are WAY WAY overblow. The most important factor is the weekly and daily charts which look to my like the corrective move is over.

[eminimee]

Cirrus...I agree....and I've posted this many times....I believe hgx is going to 175 ish

http://stockcharts.com/c-sc/sc?s=$HGX&p=W&yr=3&mn=6&dy=0&i=p35086960010&a=91715896&r=9298.png

[spielchekr]

A ripoff of Zen's indicator, but with some different indices: