Wednesday, November 15, 2006

When Last Seen

Here is an update for IWM and the three sisters - last seen 3 days ago. Note the changes = the Q's have actually rolled over and crossed IWM. Meanwhile SPX is attempting to do the same to DIA. Most important however is that the distance between ticks is growing smaller. This indicates that momentum is on its way out of the market and when momentum goes the direction changes. Consequently I would think that we are now going to go into the Santa Claus rally that we seem to enjoy every year.

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