Seems Like It Wants to Pop But...

[MadMarketScientist 11]

Markets softer this morning -- not bad considering you've got the Ireland bailout, fears that it could get worse in Europe before it gets better and tensions mounting all weekend between North and South Korea. When you put that all together it's a surprise to some extent we're only looking down about 90 points at least at the time I write this on the DOW.

 

Seems like this market really does want t pop to the upside again but it's a little tough with these momentum killers. Seasonally though you'd think it will regain the momentum sometime between now and the end of the year.

 

Regardless I've seen enough resiliency to convince myself that 2011 is going to be a positive year overall for the market and we'll be measurably higher by this time next year regardless of what happens the next few days or weeks.

 

Take it to the bank (uh, I guess that would be Goldman?)

 

MMS

[Tams 20]

[snowbird 10]

nice chart TAMs

 

4 or 5 distribution days on higher volume in the past two weeks

Volume on down days typically higher than on up days

but

market still supported by 50 day MA

MacD and stoch both putting in possible divergences

 

pop or drop should be evident shortly!

[MadMarketScientist 11]

Seems like the Dow continues to be weak link -- S&P500 seems to be stronger but the Dow maybe ends up being leading?

 

I'm sure a lot will come down to eco reports this week -- we've got payroll data as well with some of the more positive prognosis in a while so could be setting ourselves up for a sizable move depending upon outcome.

 

Thanks for posting the chart - visually tells the story...

[Mark Tabor 10]

before it gets better, huh? head-standing, perhaps an inversion table, will be necessary to "see" that...but, isn't down - not to mention cataracts, base jumps, elevator shafts, etc, just as good - if not better/easier/more quickly gratifying - as moonshots? In terms of trading.....

[MadMarketScientist 11]

Mark,

 

I'll have what you're drinking

 

MMS

[Mark Tabor 10]

at the moment, that would be an excellent organic espresso:missy:

[chartwaves 10]

Hi everyone, Seems to me that the Russel 2000 is the weakest and close to completing a lower swing high. From my experiences, the Russel and Nasdaq usually take the lead.

[chartwaves 10]

Hi everyone, From what I see the Russel 2000 looks to me to be the weakest of the big indexes, and its close to completing a lower swing high. It's been my experience that the Russel and the Nasdaq usually take the lead. It could be a reversal pattern in the making, or it could be a bullish flag setting up, it wont be long and we will get our answer.