11 weeks of higher lows ended.

Today ended 11 weeks of higher lows and 1310ish better hold on the weekly.
I find the 3 rallys interesting from a FIB relationship.
The one from August was 187.38, the second was 115.8 points, almost exactly 61.8%, and this last one was 67.54 points, 32.8%, and the number of weeks seem close to the same FIB relationship, 11,7,3.
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=1&mn=0&dy=0&i=p07830912236&a=207728465&r=8650.png

On the daily, Jack Chan's charts show the crossing of MACD's is imminent on SMH, QQQ, DIA, and SPY.
http://stockcharts.c...t...04&cmd=show[s77560190]&disp=O
FXI looks real sad with a bear flag.
http://stockcharts.c...51924&r=156.png

I think Mark Young looks at the MACD crosses as a short therm fade, so maybe when a correction is "confirmed" we could see a counter rally before going even lower.

Edited by Rogerdodger, 22 February 2011 - 12:48 PM.

Have you noticed how the RSI 21 on the FXI is struggling to go above 50? That is bearish on China.