![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg8yUPHPf4BqKPPwy15tF23VlN4ZkZgLAIxgo27LUTCs0tWeFyP_j25lpIn4hthnv_x8GjgHHGsIE7htSWyEBNWlUBiGHqJVyIfLM2Vn2Qx_0fZKXV1ymliq1a8JLl73QrPiHgAkQ/s400/062507+5+ma+advances.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9C0x04RrQlbIcMBJuPe3vnNVPvfDUac8tTzaPxptIrdeJq0QxspHBJVOlw9QhIQS6DpObTmB5yiw86_bQ7p9qEpycNUHdgobmJ_RlP7umuBImxASzweX8XPor1OO5cmXw6AK5vQ/s400/062507+qqqq.jpg)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNql6KRlqFUOpxjMI59wtyjlfcUrjchhjEJpBTzrLMABZbx8Ef0-2H8S2NlExOIWFEIe9gq7Lz3Z6HZKMjWgk-xEPmmvoMD6MP1N4H1X_5JO0IWv3l5kAclHYsFmDtwWCgoHZnrg/s400/062507+spiders.jpg)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFZIhwaqdat3C1zYGESMbysuCnAGNGRmhg9G9ILkuKBRXg2mK6VXkfbE5yTECg0_WL-yWX8rl9Rd5u_lDuQduazYd-obQZEorFd138yOBwYseiHESDB8grzGLLxwAXciU7eyEFOg/s400/062507+sp.jpg)
I find two interesting bullish omens in the charts above. First of all the Q's are acting much better than the S&P's and are well above their June 7 low. Second the daily advancing issues numbers have made a sequence of steadily higher lows (thin black line) while the five day moving average is in the process of making a higher low at its oversold line.
I am willing to go out on a limb and say that the low I have been expecting is at hand. I think the Spiders and S&P will hold above the daytime low made on June 7 (visible on the charts). The next upswing should carry these markets to the upside targets you see on the charts above.
1 comment:
Maybe I'm being pessimistic, but this chart REALLY scares me.
http://stockcharts.com/h-sc/ui?s=IYR&p=W&yr=3&mn=0&dy=0&id=p85580933355
Post a Comment