Wednesday, September 8, 2010

tough market

daily indicators are pointing for a rally here.   80 minute indicators are aimed up but look to be turning down.  shorter term 20 minute charts are aimed down.  I need all these guys to line up in one direction in order to have any confidence in a move.  I have incorporated a new one.. doing relative strength of the Russell 2k vs. the SP.  Small caps seem to lead the way both up or down so it has proven to give a good indication of mkt direction.  here its giving mixed signals too.  60 minute basis pointing down, daily basis pointing up.  go figure...

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