Thanks!!

Strong???  Those daily charts do not look good to me at all.  especially BKX still finding resistance at the daily 50.  I see the move in the indexes being made by energy with financials lagging.  Is there something else you see that I am missing?

NKE reports earnings tomorrow

Here are the stats for filings of foreclosures in Miami-Dade County for the last three years:

2007- 26k

2008-56k

2009 (through Oct.)-54k

I have a friend that strictly deals in acquiring and selling foreclosures from banks and he is down 50% inventory year over year.  So where are the foreclosures going if they are being filed but not being released?

fwiw, the 13/34ema's crossed down again on the 60min chart.

fwiw, the US$ (DX(D) on TS) closed above the daily 50 two days ago and has stayed above it for the first time since March.

Matt's SP linear Regression Chart showing negative div. as price continues higher.

fwiw, the ema's on the hourly chart crossed today about 2:30pm.  Also, on matt's linear regression slope, it was red almost all day.  On the flip side, the dollar lost steam after the morning up move.

I understand the importance of closing above the Oct. (yearly) highs, eventhough it was by 1.4 pts.  Although, isn't the importance here though a close above the Oct. high of 4066?  I don't really understand what criteria needs to be filled in order to consider the DJ-20 a double top, but I would think not taking out and closing above 4066 would not be positive.

I am glad we could get some comments going.  In reality my observations were not based on fundamentals but price action, specifically the IWM, DJ-20, and Financial Indexes.

My analysis was not meant to pick a side (bear/bull) but more to realize if the hesistation I felt based on my observations were warranted and shared by anyone else.

I look forward to hearing further discussion on this.

I cautioned on the frailty of the markets yest. in my post regarding the numerous red flags that were evident but were not discussed.

It is a little disappointing that this is a trading forum and when a topic of discussion regarding the indexes is raised, no one comments.  Yet, when someone brings up politics or a political issue, everyone comes out.

I hope some of you take a moment to look back at my post yest. and take the time to respond to start a dialogue on the market.

I don't know how to do that

The 13/34 on hourly chart very close to crossing to the long side.

I get the impression that it is all about being long due specifically and only price.  Yet when one looks deeper into what is occurring, the red flags are screaming bloody murder.

Buying volume has been just pathetic.  If one compares it to the selling volume, it is pretty eye popping.

Financials (specificallyBKX and XLF) are truly ugly, and imho, bearish charts as they have lagged the SP and DJ which have made new highs.  The BKX is still below the daily 20 and 50.  The 8/21ema has also not crossed on daily charts.

The DJ-20 has also not made new highs and is approaching the daily 500.

The IWM (and RUT2k) have not confirmed new highs.  The Russell and Nasdaq have been the leaders of this up move since March and all of a sudden the lagging indexes (which just today hit their 50% retrace) are moving higher.

These are just some of the observations I have made but seem to be missing on the nightly recap.  I am not a bear or a bull but I feel I am going to get caught on a severe down move based on all this negative divergence that will catch many, including myself, by surprise.

I welcome any comments.

The problem,which maybe you can address, the strength is confusing.  DJ made hoy but IWM is lagging today and ad chart the ma crossed below the 50.  The breadth may also be strong but the volume is anemic.

What time frame?

I honestly don't care what Prechter says but...Why can't one like dollar and gold?  Is there not an economic situation that would bring about a stronger dollar and higher commodity prices (gold, silver, etc.)?

I asked this question once before...has the dollar and gold become bullish while the markets remain/continued bearish?

What does that mean?

XLF is down over 4.5% and has crashed through the lows of the last two days.  Are you talking about something else?

Same thing The Blair Witch Project did.