Wednesday, September 16, 2009

Current $SPX and $NDX charts with today's advance...









Charts updated at 11:40 CST....

4 comments:

waldo said...

Hi Mark, by the looks of the volume today the retail investor just can't get enough, I don't think the funds are buying but I bet they are selling on every pop today and have been for a while. Have we topped today. Thanks, waldo.

mlytle said...

Hi Waldo,
the exponential trendlines look fairly good for a top, more so on the $NDX then $SPX, but I would sure like to see a candlestick that looks like top....so far I haven't seen it...We are pretty close to the upper conventional trendlines on both indexes, so you'd think the top would be close...

Regards,
Mark

bill102205 said...

Mark:
Looking at your $NDX chart "$NDX - 1.317 Basis ...".
Am I interpreting correctly?
Saying that since it is sitting right on .500 node and up against 1.272 Decay resistance line, that there is a likelihood that there could be a trend change.
$SPX less definite as it is only approaching both the .500 and 1.382 Decay resistance line.
Still working my way through the "book"!

mlytle said...

Hi Bill,
Just caught up with your message...you are completely correct!

Thanks,
Mark