Thank you very much, and the markets do need more confirming. Building tops is sometimes a time-consuming process.
One of the most troubling charts out there is of the Nasdaq 100. It has a possible head and shoulder formation, although it has NOT been confirmed, at least not yet. It just recently bounced off of its neckline. A break of 1640 on volume will be quite bearish, it is currently just above 1660. It is very hard to have a strong market without the Nas. 100 and tech in particular. Energy stocks usually lead at the END of rallies, and ironically, crude oil has a very similar chart pattern to the Nas. 100, and it is still testing its neckline. It does look as if the collapse in Nat. gas has found some sort of bottom. Yest. I posted a small island reversal bottom in the commodity, which should lead to a corrective rally there.
One thing missing from a more bearish picture at this time is sentiment. Investors Intelligence bullish percent has come well off of its highs, but the AAII is running hot.
Ajitmd and I have mentioned the yield curve quite a bit, and it is still a concern, although it isn't as inverted as it was. Part of the reason is higher rates on the curve, which is also an issue. I have no specific forecast except that I think the process of topping should continue.
The Dow has been the stronger performer out of the markets. The seasonal strong periods for the markets is also nearing the end of its cycle.
Actually, I looked at the chart, and it is an error.
This site matches the T&S exactly to the data service I use.
Even if that chart were right, which it isn't, there is no way you could tell if it were a buy or sell anyway. So, a short will tell you it's a sale, and a long will tell you it's a buy.
The truth? It never happened! LOL
Difal is guessing from the 1 day yahoo chart and even then she got it wrong anyway. It was only a 120k block.
Btw, DIFAL claims she is an aging woman on this board and then asks posters what if she is a man from India.
Funny racist woman.
why would you do a 1 day chart for a block trade at the very end of the day?
No volume spikes at all during the day. And, even if there were a block trade, how would you know if it were a buy or a sell and not a work-out deal, like many block trades are?
Just a hypothetical, there's no block there to analyze anyway.