Wednesday, August 5, 2009

A view from Clickcharts...

You can see the divergence off of their fairly nifty Trend Index Indicator (a price and volume weighted oscillator) that I mentioned a couple of posts ago... With today's down day, and the relatively high sentiment readings, maybe this rally is failing...

Also, if the S&P did top yesterday at 1007.12, it did so at a node reading of .50448, obviously at a .5000 node (Look at Monday's $SPX charts, bottom chart of the three). Since .50448/.50000 = 1.00896, then the node hit error was obviously less then 1% (.896%). The ideal date was 7/28/09.

1 comment:

Hopper said...

Hi Mark,
plus it is a full moon too.