Friday, October 2, 2009

Markets breaking down...





The nodes and trendlines have done their job...

Expect that we have a bounce here though...

3 comments:

bill102205 said...

Mark: Your comment:
Markets breaking down...
The nodes and trendlines have done their job...
Expect that we have a bounce here though...
-----------------------------------
1. Markets breaking down as both $SPX 1.382 Basis and 1.317 price is up against or slightly penetrating the 1.382 decay and 1.272 growth lines respectively.

2. Bounce here - based on? Clue evident in your charts?

bill102205 said...

Mark: $NDX plot - price just barely penetrating 1.272 decay and sitting on the 0.500 node.
Indicating a turn - most likely down?

mlytle said...

Bill,
markets are short term oversold, so there could be a bounce. Overall direction is now down...

Regards,
Mark L.