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Sent: Friday, May 09, 2008 10:14 AM
Subject: TTT Friday : We will stand pat on our positions and will update at the close today !!!

Friday, May 9th. - Stock Trends, Charts, and Commentary

One thing that I feel is very important to follow on a daily basis is the action of the "core holdings" held by Institutional Investors.

I feel it is more important than the DJI or any of the other indexes in giving a true picture of the markets. Notwithstanding the fact that over half the market's volume is generated by Institutions and the fact that they have a major influence on what happens to the market.

Below is a two and a half year chart of the Institutional Index that we post on our paid subscriber sites every day.

Give it a quick look and you will see a very clear picture of how the index followed a clear up channel from 2006, started to break down by violating the rising channel's support, and then started a very clear down channel .. which we are still in.

So, what is the index telling us now?

The index has had a very nice rise in the past few weeks, but this week it rose to its descending channel's resistance line.  Theoretically, it could move up to a final test of its 50% Fibonacci retracement line ... or it could fail to the downside after completing its test of the channel's resistance line.

This is not just any level we are at now .... it is a crucial pivot point where the markets will either move forward or resume the channel's down trend.  One thing you want to do, is always be investing in the same direction as the Institutional trend and never bet against it.

(Feel free to use the link below to forward this page to a friend or colleague.)


________________________________________

 
 
 
 
 
TTT
352-870-4626
tomandprisha@xxxxxxx
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