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Wednesday, September 8, 2010

Wednesday updates after the close!!!

The Summation Index continues its upwards march after a brief slow-down yesterday.
After the close, A boring inside day which never made any higher highs, nor lower lows over yesterday's price action, which does fit in fine as a 4th wave. I did up the degree of this 4th wave because of its duration, or time spent consolidating before that final thrust up for the 5th wave, and noticed that it is very possible to keep this below that all important trendline and still get in all five waves up. The last wave(the 5th) would have to be very short, or truncate to keep below the trendline, but it is do-able.

Not much to really add today as there were no important changes worth talking about.

Breadth closed at 2.31:1, advancers, typical of a 4th wave, on LOW volume.

The Trendfinder did jump down to 25% bullish this morning as the short-term indicators started showing bearish signs.

Hopefully after all the charts get updated there will be something worth sharing this afternoon!!!

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