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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (46374)	12/10/2021 12:12:37 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 96797

Since the open, have we just formed an inverse H&S on the SPY ($ES, SPX)??

To: Lee Lichterman III who wrote (46374)	12/10/2021 6:21:39 PM
From: Real Man	1 Recommendation Recommended By Lee Lichterman III Read Replies (1) \| Respond to of 96797

All they have to do to get rid of inflation is let SP500 crash. No need to hike.

To: Lee Lichterman III who wrote (46374)	12/11/2021 7:19:54 AM
From: Lee Lichterman III	1 Recommendation Recommended By ajtj99 Read Replies (1) \| Respond to of 96797

Couldn't sleep so started going through some charts. I saw on another board the usual snorting about new highs and the response was another person pointing out his holdings were getting killed anyway. I took a look at some charts of internals and it isn't his imagination.... Here is the last 3 years of NYSE New Highs. We have been in a downtrend all this year.... Meanwhile the new lows just keep grinding higher since about 18 months ago.... So far, from what I've looked at, index charts look constructive but individual stocks look like crud except for the stuff they are propping the indexes with which are already very overbought. I still have that cycle turn looming in the coming weeks though.R2K has been weak and I actually got a buy signal on it so it should be interesting to see how it responds. EDIT - I should add that the AMEX highs/Lows and NASDAQ highs/Lows look the same as these NYSE charts.