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Attached is a picture of the Total Market Model mentioned in a previous
post. The model is composed of indexes representing all the stocks on the
three major exchanges. The bottom model assigns equal weight to the three
exchanges. As you can see it has reversed to the downside.
The blue line considers each index in proportion to the total stocks on each
exchange. It is nearing a reversal in the next several days. The Forecaster
projects trend changes for all major indexes on Friday/Monday. A similar
model of all 30 stocks in the DJIA went bullish on Monday
With the markets essentially ignoring record energy prices, it would appear
a significant new bearish impulse would be necessary to turn the markets
around. It is some what uncanny that major unplanned impulses often occur
around the Near Impulse dates. Be aware and cautious.
Jim White
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