Wednesday, July 23, 2008

Markets are in an odd state..

Currently we have $trin and $CPC closer to what you see at tops, although many breadth indicators are oversold. I originally conceived the 7/21/08 date as a bottom, and I think perhaps the manipulation of the naked shorting rule started the rally a little early. That said, I am out of this market for the time being. I will re-short once I'm sure this market knows which way it's going...and obviously after it has worked off it's oversold condition...

3 comments:

lagscrew said...

I have a few indicators going back 2yrs that made it into new extremes

Hopper said...

Hi Mark,
OEW is has is up to 1287 then down to 1240 then up over 1300 or so.

mlytle said...

Hi guys,
I think we're just thrashing here..it may take until a little ways into August for the market to finish this process...

Mark