Breadth close the day at 1.25:1, advancers, typical of a 4th wave, and volume was extremely low, coming in at only 466M shares traded on the NYSE. The trend does remain up until the SPX can start printing lower lows, with the first minor low at 1246.70 and the first major low at 1232.85. On the upside, there is not much in the way for resistance at this point.
The Trend Finder II did have some important changes today, although the new signals are weak.
I am going to try something new today, if you would like a daily chart of a favorite stock or index, please Contact me with the ticker, and I will e-mail you back an updated chart this afternoon with the buy/sell signals on it.
Robert Prechter Dispels 10 Popular Investment Myths, Part VIII