| Not sure....does the other site show charts to prove this? At this point, I am neither bearish nor bullish. I think we need to correct a little, but we are not ready to go to new lows just yet. On the upside, I am also not ruling out a possible surge to 11,400 on the DOW, 2600 on the Naz, and over 1300 on the S&P. . Over the course of the last few weeks the weekly stochastics were still rising and have only just now reached the top and are starting to turn. Given that this is a longer term indicator, we have yet to begin working off the overbought condition. It'll take another 2 weeks or so of decline to at least get some of it out. Of course, it could be bullish if the weekly stochastics do come back down but the market only retreats a small bit. in this sense, he could be right, but not yet. |
