Using the important swing data points from the March '09 rally bottom to the presumed Jan '10 top, We see a narrowing of the range of the high and low data at the .125 (1/8) node and the .250 (1/4) node for the Russell 2000 and $NDX respectively. This means we could be at or near the top of the smaller scale rally that started with the bottom on February 5th. On the $NDX, the candlestick we see is a 'hanging man' often seen at tops. We need a day or two for confirmation on this.....
P.S. Short term sentiment is also getting somewhat extreme...
1 comment:
Mark: Ah, return of the 'old' charts - gives a feeling of comfort and interpretation!
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