Bottoming Activity?

My broader market combo indicator spiked again on the 17th. It tends to do this when a serious bottom is going in. The problem is that you can't really tell if the actually bottom has hit or if fear will progress and we will go lower before the bottom arrives. About the only thing it's good for is that it indicates we are seeing broader market activity that is extreme, the kind of activity we expect to see near a longer term bottom? My understanding of the markets was never very sophisticated and I've more or less stopped trading completely. But this market is kicking off some interesting signals?

the trend hit 2.99,and closed at 2.88.we get one more day like his on mon. in my view .in days the market could turn up

I noticed that Hamzei went long Thursday for his "official" record.
I feel that he may have had lots of company caught wrong footed:

This notice of Change of Market Bias was sent early this am to Timer Digest (yes, way before GE results were made public) and it was just posted on our Blog. It was discussed in depth in our SuperPlatinum Virtual Trading Room yesterday near the close.

In any event, we are long S&P-500 Cash Index (SPX) from 1360.54.

Fari

Dear Jim,

here is my latest 2 shekels:

"Technically, the damage caused pre-open today by Jeff Immelt & Co was heavy, GE being the 3rd largest company by market cap. SPX closed below zero sigma (20 day MA) and NDX stopped exactly at 0 sigma. McClellan Oscillators closed at -30 and -36 for NYSE and NAZZ, respectively. With this backdrop, next week could be pretty tough for the longs. We have Q1 Earnings, Tax Selling and April OX. Sounds like the script was written in a backroom of Central Casting.

As you know, we went long as of Thursday close (1360.54). While we are not panicking yet, nonetheless we are alarmed at the huge miss by one most reliable reporting companies (and still the only original member of Dow 30).

But next week is another week, and God willing, we shall fight another battle."

Edited by Rogerdodger, 11 April 2008 - 11:35 PM.