2/22/2010

More evidence… this time it’s different

I posted yesterday why I thought that the market’s recent drop isn’t just another normal correction. Here I’m presenting further evidence that we may see 1040 before seeing new highs.

022210_es_daily

The chart above highlights the number of days it took to make new trend highs after each substantial correction in the past year’s bull market. Notice that each new leg up took 8-10 days to reach new highs. Compare that to now: we’re on day 12 since the low at 1040, and not even close to new highs. Also, notice that on the daily chart (as opposed to the weekly chart I posted yesterday), it is also clear that volume expanded on the downturn, and is shrinking on the upturn.

These facts tell me that the rhythm of this bull market has changed, and that the bear may be making a real comeback shortly.

3 comments:

Dave Narby said...

Pretty sideways action today. And the bulls are still bullish (AFAIKT), despite some talk of bearishness out there.

I'm talking my book, but what you've observed (and a lot more where that came from) seems to argue for lower prices.

jg said...

Nice analysis, N-. Makes sense.

But, I've lost lots of money these last six months trying to short at the top. So, I will not jump in short, yet.

I think I will jump back in short once we get some economic unraveling in Europe or here in the U.S.

job said...

AV,無碼,a片免費看,自拍貼圖,伊莉,微風論壇,成人聊天室,成人電影,成人文學,成人貼圖區,成人網站,一葉情貼圖片區,色情漫畫,言情小說,情色論壇,臺灣情色網,色情影片,色情,成人影城,080視訊聊天室,a片,A漫,h漫,麗的色遊戲,同志色教館,AV女優,SEX,咆哮小老鼠,85cc免費影片,正妹牆,ut聊天室,豆豆聊天室,聊天室,情色小說,aio,成人,微風成人,做愛,成人貼圖,18成人,嘟嘟成人網,aio交友愛情館,情色文學,色情小說,色情網站,情色,A片下載,嘟嘟情人色網,成人影片,成人圖片,成人文章,成人小說,成人漫畫,視訊聊天室,性愛,情色,日本a片,美女,成人圖片區