April 14th: "Like the January top""Cracks are beginning to show"

The 20EMA on the CPC chart is in an area which is near a buy in a bull market.
It has been one of the indicators which kept this old bear bullish...until mid April when it hit an extreme and turned up.
However it is yet to turn down and is still bearish.

"OK, so what now? Hell if I know."

Great minds think alike.

I'd be inclined to buy a gap down Monday for a pop.
Next week is typically up, but cracks are beginning to show.
One chart which has kept me on the bullish side (until Wednesday night) is the CPC.
http://www.traders-t...howtopic=118209

CPC extreme today like the Jan top

0.56 is the lowest in years.

http://stockcharts.com/c-sc/sc?s=$CPC&p=D&yr=3&mn=0&dy=0&i=p96797995968&a=31062200&r=9443.png

Sentimentrader showed a big jump Friday along with TRIN:

Tick is another one which is showing no life. Today's closing tick was a very low -822.
It's beginning to look a bit like the July '09 correction which I've mentioned before.
http://stockcharts.com/c-sc/sc?s=$TICK&p=D&yr=1&mn=0&dy=0&i=p90549519776&a=112527926&r=1974.png

And today's 5 day TRIN total is 9.46 and that's without any panic type spikes. Today's high was only a 2.71. LINK

So it's a weak, oversold market and should bounce but sovereign debt concerns are the big market weight not soon to vanish.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=0&dy=0&i=p41598787793&a=94546561&r=1275.png

Edited by Rogerdodger, 18 May 2010 - 03:35 PM.

Yes, you can say "crack" as in, "Rog, you crack me up." But cracks are not allowed nor are visuals of these specific cracks. I think it's time for a Guinness.

Edited by milbank, 18 May 2010 - 04:02 PM.

The July Tick crack looks good to me. Once again, good eye Rog......

Did somebody call a plumber?

(Rogerdodger @ Apr 18 2010, 11:59 AM) *
"OK, so what now? Hell if I know."

Great minds think alike.

SURE YOU DO! Just a reminder.

Edited by mss, 18 May 2010 - 06:55 PM.