Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: westpacific	11/16/2007 4:36:54 AM
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INDU - reaching extreme oversold, same as in March/August and now November. Be careful shorting this here. MACD/STO/ROC/TRIX all extreme. Room to 12795 on the downside and still no technical damage. Options X crap over end of week. Next week will tell the tale. Global markets no cracks, India, Brazil, Russia. Makes me wary of INDU breakdown, not yet, not here - next year for certian. S&P stocks above 200 DMA now 47 -July 2004 40 max low -October 2005 38 max low Break of 12800, we rethink it. Dow Theory states 12845.78 - however I see 12795 spike down and recovery if we get there. Monthly INDU has two bearish falling three candles formations, that is something to have concern and it is major topping action. Utilties Chart turning bullish again as well. The question for now is, top in? or one more run to the top. Data calling for either at this moment. Whos is making money? Very few here. West

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