|
PureBytes Links
Trading Reference Links
|
Bruce,
I am looking at the NYSE market breadth and the New highs minus new lows
has run into some resistance. Like wise the total volume on the NYSE is
still trending lower. Lastly the momentum of the up/down volume ratios
has been slowing as measured by it's 10 day MA and 50 day MA.
I can see a correction in the DJIA soon.
Not that it is impossible but the weekly JF = 8542 for the DJIA. Which
means that if the DJIA is going to keep the same pace it must go above
8542 by Friday. With the weakness in market breadth I can't see it.
I looked at the NASDAQ and the same market breadth doesn't give as clear
a sign for the NASDAQ Composite Index. Although we see it is already
headed to the bottom of the up trend channel.
Harley
|