Friday, July 25, 2008

Market still staying within the downwash fan of regression of the top of early June





Note that $NDX topped just past the .500 node, although I thought that.500 point would be a bottom, if you look close it was...sorta...We'll see what happens next...

The chart of $NASI is showing recovery from a deep bottom, but I don't expect a lot of vertical progress by the price action on the indexes as the Breadth indicators work off their oversold condition...

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