Google Finance offered real time quotes and now we no longer have to deal with 20 minute delayed quotes.
If we close above 40.48, it will become support in th 40.48 to 44.50ish area. That's a nice 10% swing to play perhaps.
Big move is still building in the weekly momentum graphs. It's not about the news of the day...or some crazy manipulation... it's just a cycle around the fair price that no one knows.
If everyone starts noticing a particular cycle and starts trading it, then it will flatten or move forward until enough folks are not playing it.
McClellen thinks we are at the end of a 40 year cycle too- and he anticipates a basically flat 2 year period with lots of movement back and forth in a range. Lots of opportunity to make money in things like QID and QLD even tho they sometimes move wierd compared to their goals.
I assume NcClellan is referring to the Kronakieff (sp?) cycle. Market top 1929, 40 years later top in 1969 (and then 12 or so years market goes nowhere with around 1050 as a cap on the DOW). 1969 +40 is 2009.
Had looked at that myself and am wondering do we get 10-12 years of sideways to down like 1969 to early 1980s?