Well, I've been excoriated for my supposedly bearish views on this thread, so don't exclude me from the bearish contingent (even though my outlook seems to move inversely to the market, with predictable regularity).
I've said there might be more room to the upside in the rally, so that should be a good sign that the rally could well be over, since I have a remarkable knack for being wrong. My view was that the LT CI's never quite maxed out.
Also, other volatility indicators, such as the VIX and the VXN, didn't touch extreme lower support levels. There was a very interesting conspiracy theory on this matter, posted on this thread.
I'd be prepared to throw in the towel with the Naz when your lower trendline is broken through, Larry.
Here are today's and yesterday's CI's:
ST Naz CI: 50.597, 46.392
MT Naz CI: 75.057, 68.651
LT Naz CI: 91.787, 89.926
ST S&P CI: 44.939, 58.097
MT S&P CI: 58.089, 69.196
LT S&P CI: 87.560, 89.398 |
