Click to enlarge
Click to enlarge
The original chart was posted on Nov 11, 2008 We hit the trendline but I suspect we are going lower still.
Monday, March 2, 2009
Grey Monday
When the market internals fall apart after an extended period of declining prices it is an indication that things are really bad. In almost any other market I can recall, the lows in the McClellan Oscillator would have produced a reversal. What is occurring now is that prices look cheap to people and the market bounces before it can capitulate. This results in the grinding kind of decline we are seeing, it is a slow motion crash.
The McClellan Oscillator for Monday 3/2/09
Click to enlarge
An Update on the DJIA Monthly Chart
Click to enlarge
The original chart was posted on Nov 11, 2008 We hit the trendline but I suspect we are going lower still.
Click to enlarge
Click to enlarge
The original chart was posted on Nov 11, 2008 We hit the trendline but I suspect we are going lower still.
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