Same color scheme protocols as the $SPX charts in the previous post...Notice that the $RUT has been a little better behaved relative to the lower side of it's channel then the $SPX (see earlier post) which has briefly broken down below it's channel and has been trying to climb back into it....The Russell 2000 channel is also a little wider then it's $SPX counterpart....
Hi Mark,
After a volatile session, the $SPX managed to hit the top of its channel and then it backed off. The $RUT actually exceeded it's channel slightly, then it also backed off. Tomorrow will be an important test of the channels and everything else...
The blue lines align with moments that preceded significant market declines. The orange lines are just picking points along an indicator which is produced by the products of moving averages similar to MACD. You can see I picked the points where both indicator(s) went negative. Clearly the Clickcharts indicator (the top one) which is volume weighted, has an edge...
While the greatest environmental disaster in our history is a trying juncture for Obama, it also provides him with a nearly unparalleled opening to make his and government’s case. The spill’s sole positive benefit has been to unambiguously expose the hard right, for all its populist pandering to the Tea Partiers, as a stalking horse for its most rapacious corporate patrons. If this president can speak lucidly of race to America, he can certainly explain how the antigovernment crusaders are often the paid toadies of bad actors like BP. Such big corporations are only too glad to replace big government with governance of their own, by their own, and for their own profit — while the “small people” are left to eat cake at their tea parties.
When Joe Barton, the ranking Republican on the House Energy and Commerce Committee, revived Rand Paul’s defense of BP last week by apologizing on camera to Hayward for the “tragedy” of the White House’s “$20 billion shakedown,” the G.O.P. establishment had to shut him down because he was revealing the party’s true loyalties, not because it disagreed with him. Barton was merely echoing Michele Bachmann, who labeled the $20 billion for gulf victims a “redistribution-of-wealth fund,” and the 100-plus other House members whose Republican Study Committee had labeled the $20 billion a “Chicago-style shakedown” only a day before Barton did.
These tribunes of the antigovernment right and their Tea Party auxiliaries are clamoring for a new revolution to “take back America” — after which, we now can see, they would hand over America to the likes of BP. Let Deepwater Horizon be ground zero for a 9/11 showdown over the role of government. There couldn’t be a riper moment for Obama, as a man once said, to bring it on.
In that post, I ruled out the last model as having already passed by inconclusively, and placed my bets on the middle model...Assuming today was the top, it came in at 1131.23 on 6/21, which means the first model was the closest to what actually happened...
And this is the latest 1.272 model :
Overall, a nice trendline...but you can see where I got stopped out, where it briefly broke...
