Three Charts
Three Charts
Here are three charts for your consumption tonight – offered without much commentary:
If we can breach that small lower diagonal on the chart I think Soilent Black plays out. The odds for tomorrow are horrible and we might go sideways all day again.
Three moving averages on the Nasdaq New High/Low Ratio Index – boy, this thing took the elevator up. That’s how a bear market rally looks like.
Compare that with the NYSE and notice the drop off since early May. I think this is a great way of visualizing the discrepancy between the SPX and the NDX as of late.
All I got tonight – I’m beat. See you tomorrow morning – for another whipsaw session.
Cheers,
Mole