Saturday, November 14, 2009

Chart of Charts Teaser and Bears Need a Rest Also

Quick summary....Chart of Charts....popped bullish on the 5DMA on this weeks action.

CO'C is now neutral.  Almost always...the indicators go from bullish to neutral and then to bearish.   Once in a while, they will go bullish to neutral, and then roll back into bullish.  Do a visual inspection of the previous chart of charts to see this pattern.

So the conclusion?  No joke here, the market might go up or might go down.  Since everyone's indicators show 1120 as a S&P  target, I would say it is unlikely to go right there.  The big wildcard is the USD and our trusted leaders have an influence on that by rhetoric and control of the money supply/free money handed out to Banskta's.   So it's a wildcard.

I also have some really great data on earning results, total market, then broken down by sector.  It basically shows that most companies beat their estimates, although most companies made less in 3Q than in 2Q and basically 2Q stunk to high heaven.   I hope to find time to chart this data in way to have it make sense.


No comments:

Post a Comment

Insightful and Useful Comment!