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Harley Meyer wrote:
>
> 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.
My fingers have been drumming on the internal weakness for days.."When
is this thing going down?" Then nothing like the short covering rally of
the century last week. To bouy El Bovine....The SMI/ Stochastic Momentum
Index on 20 day basis on OEX finally kissed its lag line.. but it is
just a kiss. not a cross over..
Don
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