Tuesday, November 21, 2006

Tech Leads

Well this is just the old diagram of the three sisters and the ugly step sister (IWM) updated to the 20th of November but as I was looking at this this morning it suddenly occurred to me what I was looking at - good old fashioned tech leadership in a bull rally!

"Old fashioned" - right. Anyway for you purists out there this is the proof that the bull rally is for real (at least this week's version of it). A couple of other things to note - IWM is flattening out and finally rolling over. While barely perceptable the ticks in the IWM line are closer together than they were a week ago. Another thing to note is that the SPY is finally crossing over the DIA so maybe the major market will participate to the end of the year now that the INDU has had its day in the sun.

I don't know but I thought this stuff was interesting. You can go back to sleep now.

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