Ben,
Not questioning your forecast (I wouldn't dare),
but regarding McClellan and perhaps also your barometer (I don't know the
basis of it), it looks to me that after the bearish dvg betw 7/24 and
8/15, there is now bullish dvg with the indicator L lower
than the L of 8/5 and price L higher and, as such, calling for a rally.
Similar to 8/5 vs 7/28 although both,
divergence and negative dvg developed by a flat mkt are
unreliable
It can be explained as the correction being
actually stronger than what the price shows, makes now the mkt ready to go up
again. .
Barbara Starr wrote an article in Stocks &
Commodities on dvg of this type years ago and, also years ago, a man
whose name escapes me, specialized in dvg, and wrote on the same
subject.
Anybody remembers his name?
Jan Philipp
----- Original Message -----
Sent: Sunday, August 24, 2008 3:07
PM
Subject: [RT] nasdaq whats next
the NASDAQ looks like is going to
underperforms
in the next move down will go down in % more
than sp500
here is why
the chart attached is the top left is
NASDAQ
under it is chart of market
barometer
it is clearly showing now a bearish
divergence
the top right chart is the macd on the
volume McClellan osc
it is on a sell and bottom right is
the diff between the 2 histograms
also already on sell
even we have a nice up day Monday/Tuesday that
is gift for shorting
Ben