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Tuesday, November 30, 2010

Tuesday Updates

This is the Summation Index from yesterday's close, confirming that the trend is down, as it accelerates lower.

Click here for a live, and updated chart!!!
7:16, The short-term counts are really getting messy and VERY unreliable. The trend does remain down until the SPX can start printing higher highs and 1156 is still looking like a spot for a possible bounce if the SPX continues along its present path.

The Dollar made another new high today, and now has $81.525 as the HOD. The short-term trendline is still holding bullish, but the Dollar can also be counted as an a-b-c up, instead of the 1?-2? on the labels. At $82.41, wave "C" would be equal to the "A" wave, something to keep an eye on, that is why the short-term trendline is important.
On related news, Gold is up $16.00 to $1384.00 this morning, if these levels hold, a buy signal will be triggered from the daily Trendfinder at the close of the day.

1 comment:

  1. good stuff. have been surprised that the folks who are very bullish (pug, caldaro) don't seem to pay any attention to the mcclellan indices. i track teh T2118 and it ihas already crossed the 20 and 50 dma and is right at the 200. i also question whether a rally up can follow through until the bullish sentiment corrects down at least to lower mid range, if not outright bearish.