Friday, April 23, 2010

Something is changing...

I am thinking as of this afternoon that most trendlines are being exceeded, some by quite a bit...I think this is still a FED powered rally, and all normal limits are being pushed through.. Today had rather high volume, reversing the trend of late towards low volume...so the Bear is maybe dying here unless something changes early next week..Note above, the big spike in volume and the associated CMF indicator (green)..

Note in the Bigcharts chart above, only the monthly Bollinger Bands stands in front of the $RUT's march upward...that might stop it in conjunction with the trendlines I posted earlier, but the volume stats right now don't look encouraging for the Bears...

Lastly in the charts below, I have shown how the recent spike in the $NDX looks, based on the regression of past highs. Are we seeing a parabolic blowoff that's near it's end, or just the superseding of existing exponential trendlines by a mania that has no defined boundaries? Right now truthfully, I'm not sure..

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