Friday, February 26, 2010

Friday Chart Update, odd similarity in index patterns

Sure, stocks and indices do follow each other....herding instinct being what it is.   But usually, not exactly.  Look at the first graphic....uncanny exact match.   In several thousand days of watching the markets, this is only the second time I have see the 3 indices match each other so closely.   The last time was about a week ago.    Strange, very strange.   The tin-foil hat comes out.   

I am still not excited about this market.  I think it is whipsaw heaven, or hell, as the case may be.  I have a few short positions, EEM, and TSN, and close to  throwing them under the bus. 

On the weekend I will try to produce Chart of Charts.  There were alot of bearish charts this M,Tu,W, but Thurs Fri could change that complexion, I haven't analyzed yet.

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Insightful and Useful Comment!