we are on top of the last low and not far from THE low. The bulls have to be disappointed after January's performance (-8ish%), and usually the best month of the year. And the weekly MACD had started to turn up a while back and no gains have been made = sick. The trannies are leading the rest and are a shade from new lows, the rest should follow. Mc Osc has a big hook in place, which in this case should resolve to the downside. The mood is dismal, but certainly not panic. Like OGM said, the mkt has gotten comfy with 8000, which is near the lows = not good. An interesting MACD setup on the weekly is in place, a huge Bull divergence IF cash spikes to new lows in here and MACD makes a higher low on the turn up = a great rally...this is what I am expecting. Its an IF and cash could be a bunch lower on a spike, so lets see how it develops. Could it turn on a dime here, yes, but not my perfered MACD setup.
Mco
Tran
Spx
crucial spot in mkt...yes.
Started by
tommyt
, Jan 31 2009 02:15 PM
1 reply to this topic
