That’s Entertainment!

It took the Indoos six days of chop to consolidate for yesterday’s mellow breakout to a marginal new high, but the rally appeared nonetheless to be strong enough to end the week on an upswing. There couldn’t be many bears left at this point, least of all those who have put their money where their mouths are.  I have no strong convictions about this myself, although the nearness of a compelling rally target on the longer-term charts still gets my rapt attention. There are a couple targets that I’m watching now, actually, and all you need do to join in the fun is to click here for a free, two-week trial subscription. Head for the chat room once you’re signed up — and be sure to say hello.

  • gary leibowitz November 5, 2017, 1:04 pm

    Last stock market move higher before the 20 percent correction. Most likely time frame is a peak within next 30 days.

  • none November 3, 2017, 8:38 am

    When people stop believing, then the trend reverses.

    OBV NFI CLX:

    Today’s 11022017 closing high in the INDU was a all time high, non confirmed and the CLX creating a ‘pin point’. During the Trump rally several pin points in the CLX where created.
    The timing process continue, but the market moved towards higher highs with out the process creating a downtrend. During this time period the RAW AD Line never created a non confirming process towards new highs but 1 time on 08042017 date where a 20 trading day consolidation lead to new highs there after.

    MSI MO:

    The MSI continue to move upward during the data stamps of the ‘pin point’ CLX timing process, canceling out each signal. Today we have the MO creating lower highs under the zero line extremely negative signals and suggesting liquidity leaving the market. The MSI in the last 2 weeks has been declining suggesting these levels are having all indicator’s moving towards a greater sale to the larger degree.

    Raw AD Line:

    As, mention above has never given a longer term sale than the highs of 08042017 date earlier this year, today with the others creating non confirming highs in volume and breathe now have the over all backdrop for a major turn, which continues to suggest a larger V Shape Top forming to the larger degree.

    Todays highs as also early last weeks high point suggest a major high being printed, and that the turn lower is again observing the 4% rule to open the barn door in the trend change.

    Have a great weekend Rick!