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Thursday, December 9, 2010

Thursday, After the Close!!!

Another interesting chart filled with divergences.
Yash, I did adjust the 2nd wave a little, and put it at the 38% level. This is a log chart, if it were an arithmetic scale chart it would look more proportional.

This is getting interesting, the number of stocks making new 52 week lows are increasing, even though the Indexes are at yearly highs. This is a sign of an unhealthy market that is not firing on all cylinders. It would not take much of a sell-off, maybe 20 points, to trigger another Omen. The Omen to me does not mean much other then the market could be ripe for a large sell-off, it does not mean it will happen though.
The 9 day MA of the TRIN is at extreme levels now. Surges above 3 are deemed oversold and dips below .50 are deemed overbought. More information about the TRIN can be found here!!!

3 comments:

  1. can you comment on your india chart .. you have blue i? and ii? on it. Tony C has different count but thats fine. I have question on your count. If you are considering entire run as blue i then how come blue ii? is so shallow?

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  2. Thanks. now I got it. I missed log part of it. I just love this chart as its perfect bull market!
    Now question remains of blue i is done or not. I think after coming so close to all time high it just missed it. I was of opinion that blue i is not done yet and will be done with US top of this counter trend rally. Then when US enters impulsive down, India puts some large correction blue ii with much more than 38.2% as typicallly ii waves can go to 61.8% .. isn't it? If blue ii is just 38.2% and then blue iii starts i am not sure how come US will come down impulsive at that time. To put blue ii only 38.2% it won't take much time more than few months and then blue iii will start. your comments appreacited.

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  3. I like tony c count too. he has this in major 3 right now. then after major 5, primary 1 ends where US may top out. Spring of next year. Then US enteres bear market and India enters in large primary 2 just like last US bear market 2007-2009. if I take your blue numbers equivalent to tony c major numbers then yours are behind. If I take your blue numbers as tony c primary numbers then you are ahead in the sense primary i is ending.

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