>>>Give me a high one-day close on the TRIN and I'll go long. Am just nibbling now. >>>
paul thats a good idea, i nibbled this morning but sold em when no real rally materialized, even though we are deeply oversold and there are all kind of indicators that look ripe for at least a bounce to fill the gap, i wouldn't trust a reversal until/if we close above the 9/10 high, with a good breadth plurality, the stock market bubble is many layered and not just the internet bubble. If you look at berkshire hathaway chart it looks like it has just broken out of a year long rising wedge/distribution top, there are plenty of other charts that look like this. If you look at the dow and the nyse as long term distribution tops, there is a lot of pent-up power there, and yesterdays high volume gap may have activated those tops, better to be safe than sorry.
stockcharts.com[w,a]daclyymy[dd][pb50!b200][vc60][iUb14!La12,26,9]
stockcharts.com[w,a]daclyymy[df][pb50!b200][vc60][iUb14!La12,26,9] |
