I'm also waiting for the other shoe to drop, but it never seems to drop...<g> I can't be superstitious, but I'm still waiting...<g> but still, I have to go with the charts... one of my indicators is telling me that near term we're very, very, very over bought, but that's just near term... that's the 25 day cumulative advance decline figures, last night they went over 10,000 for the first time in many ages... now, that's way over bought... but, a bull market can remain overbought for a long time, just like a bear market can remain oversold for a long time and still go lower... I believe we're in a bull market and the long term chart pattern is as healthy as ever, the bear market gurus are dead wrong, they have been for 14 years and they've missed the entire move from DOW 1500... now, that's sad..... another simple indicator tells me that we're moving higher eventually, whether the other shoe drops or not... that indicator is the new high vs. new low indicator which has been recording new highs over new lows at a ratio of about 20 to 1 every day for about a month already... we may not actually see those single day explosive rallies like we've seen in the past, and yet we still could, but we could still inch our way higher like we did yesterday for a long time to come and end up at much higher levels before we actually realize this markets has made such a move.....
GZ |
