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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (26819)	11/23/2011 8:19:40 AM
From: chartseer	Read Replies (1) \| Respond to of 218882

The world trades tomorrow even if our markets are closed.

To: GROUND ZERO™ who wrote (26819)	11/23/2011 8:32:44 AM
From: Hawkmoon	1 Recommendation Read Replies (1) \| Respond to of 218882

unless something changes, this market is going to break down much worse than most people currently expect, although we're now already well oversold... I would agree.. When I look at this long-term chart of the DOW, it's indicative that we're facing another 2008 moment: bigcharts.marketwatch.com Whenever the weekly MAs turn down, it's ultimately resulted in major lows on the DOW, although we're still above the 200 Week MA and we may find support there at 11,000. We will then have to wait and see if we get that Santa Claus rally that keeps us from seeing those MAs from performing the vaunted "death cross" that sinks the entire ship. What I really don't like is to see the monthly MACD turning negative (input time frame into chart above). Everytime the Monthly MACD has turned negative, it's been a journey into the Abyss.. We'd have to go back to 2005 to see where MACD was negative for a few months, but then recovered to the positive after a minor dip into negative territory. Btw, do you notice the "mother of all H&S" patterns in that chart? And I see durable goods orders weren't that great, so that may clinch the scenario for this week. Also, see that the USD is soaring. UUP is printing 22.21 this morning (disclosure: long UUP).. That's a HUGE leap from it's previous close of 22.04. Hawk