Tuesday, October 6, 2009

Rally should falter around here...

1 comment:

bill102205 said...

Mark: You referring to the rally from early March 2009?

I see that $NDX bounced off 1.382 Growth Trend Line several times, then crossed above, crossed below and now barely penetrating it - on your chart.

$NDX daily Slo STO, CCI, Wm%R all show crossing above oversold on the 5th and 6th OCT.

With these indicators it looks like $NDX could move above the 1.382 Growth.

Elliott Wave Precther has called for a turn down. That was a couple of weeks ago(?). Others are saying indicators are looking rather weak, rally losing steam, but $SPX still may climb 1100, before turning.