The $INDU, which has been lagging for a couple of months now, is
the first to break the rising wedge. As touted and celebrated
as this rally has been, the $INDU is only up 6.9% YTD.
True Freddy, but just as Steve astutely pointed out a few months
ago that the end of 2011 was not the same "look" as 2008, I would
say that early 2012 is also not the same as 2009. I see many
more similarities of the market now to mid 2007 -- the most
alarming thing is the incredible dying breadth over the last six
weeks (as measured by the $NYMO, currrently at an alarming -60
today, never breaching the 0 line; well it did for one day).
What happens right now if AAPL has a healthy 23% fib or 38%
fib retracement of it's latest four month rally? That is a
massive correction indeed. Will the lagging sectors pick up
the slack? I guess we'll wait and see.
Posted by freddy123321 on 29th of Mar 2012 at 12:44 pm
finally seeing past few months signs of a normal mkt. Not
everything rising or falling together. Not many huge gaps up and
down. Not all stocks of same sector performing equal. I am always
cautious long or short. We had a very decent correction last year.
Will we correct hard again? i dont see it. Pullback sure, well
needed. I could always be wrong.
Gold and silver , imo looks done for a long while. gold back to
1000 area, slv under 20. Then i will get giddy again om PM.
$INDU rising wedge
Posted by kalinm on 29th of Mar 2012 at 12:07 pm
The $INDU, which has been lagging for a couple of months now, is the first to break the rising wedge. As touted and celebrated as this rally has been, the $INDU is only up 6.9% YTD.
there were many in 09'
Posted by freddy123321 on 29th of Mar 2012 at 12:16 pm
there were many in 09' calling for all these ed.
Title: 2012 to 2009 comparison True
Posted by kalinm on 29th of Mar 2012 at 12:25 pm
True Freddy, but just as Steve astutely pointed out a few months ago that the end of 2011 was not the same "look" as 2008, I would say that early 2012 is also not the same as 2009. I see many more similarities of the market now to mid 2007 -- the most alarming thing is the incredible dying breadth over the last six weeks (as measured by the $NYMO, currrently at an alarming -60 today, never breaching the 0 line; well it did for one day). What happens right now if AAPL has a healthy 23% fib or 38% fib retracement of it's latest four month rally? That is a massive correction indeed. Will the lagging sectors pick up the slack? I guess we'll wait and see.
normal mkt
Posted by freddy123321 on 29th of Mar 2012 at 12:44 pm
finally seeing past few months signs of a normal mkt. Not everything rising or falling together. Not many huge gaps up and down. Not all stocks of same sector performing equal. I am always cautious long or short. We had a very decent correction last year. Will we correct hard again? i dont see it. Pullback sure, well needed. I could always be wrong.
Gold and silver , imo looks done for a long while. gold back to 1000 area, slv under 20. Then i will get giddy again om PM.
thanks
Posted by honzer on 29th of Mar 2012 at 12:11 pm