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Thursday, December 23, 2010

Thursday, After the Close, Is the Market Rolling Over???

Although I will be posting charts through-out the week-end, I am sure many of you will be with your family and friends, so please enjoy the Holiday's and stay safe.
I would like to thank each and everyone of you for helping make this blog a successful tool, where fresh ideas are allowed to flow, and hopefully, new tools that did help improve everyone's bottom line.
A very light volume day, but there were some very important changes today, including the first break of the channel line for this 5th wave, the VIX making a minor higher high and producing a green candle for the week and the 4 hour charts on the Trendfinder showing sell signals at the close for Copper, SPX, RUT, NDX, and a buy signal for the VIX. The Nasdaq(NDX) and the Russell(RUT) had sell signals flashing on and off all day on the daily charts, but niether confirmed with a closing signal. The indicators on the Daily SPX are also rolling over to a sell.
On the counts, today still felt more like the final 4th wave before a top of some sort, trying to make an impulsive move off of the highs breaks too many rules to consider that option, but I would not be surprised to see the final 5th wave truncate at some point, and not make a new high. One other option could be Monday we open gap up to a new high, then immediately reverse back down to where the SPX starts making lower lows.
Breadth closed at 1.07:1, decliners with 615M shares traded on the NYSE.
There are a lot of charts that are showing major changes as well as many that are at extremes right now that signal tops, I will have a week-end full of different charts to share starting in the morning, until then I am taking the rest of this day off!!!
*There are a few interesting charts in the post from this morning.


  1. I think you should post the picture of your prize lamb Col ! Happy Hols and thanks for all the great charts over the year !

  2. Thanks for all the hard work and great analysis. Have a great Holiday

  3. thanks Hoop, hope you and your loved ones have a fabulous holiday!!!