Thursday, December 02, 2004


DJIA today ultimately went down 5 points. The last two days have been green price bars, indicating the market is going higher. As you can see from the indicators at the bottom, they're near the top of their range, very overbought and likely indicate a much lower market. Again, a big down Monday I predict. How low will the market go? Again, let's see what it tells us early next week. I'd be very surprised if the market was up tomorrow.

Why are the price bars green then? They're based on a 7 day momentum indicator. Compared to the last seven days, yes, the market is higher. But, the longer term momentum indicators, (not shown) still point lower. I'll post them another time.

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