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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