Don, I am not sure what you call "limited", but right now for the market to mount a credible advance (the general market, not just the NAZ powering NDX), it will have to swim against a traditional DOW theory sell signal, the three rise and stumble effect, the two year long decline in the A/D line, the contraction of leadership, the failure of major engines like MSFT, GE and IBM to make new lows, and the absence of real panic selling yet. Give me the last, and I'll be ready to redeploy. I need at least a reading of -1200 on the NYSE tic for two three days running, even Friday the best it could do was -1116 (if memory serves), getting there, but no cigar.
Zeev |
