Tuesday, December 14, 2004


The market keeps going up. Today the Dow was up 38 points. No question I've been wrong about the timing of the downturn to come. The price bar is green, but the Stochastics indicator below the price bars is very, very overbought and the long term moving average has decidedly turned down. How much longer will the market soar? This could be a big fakeout-breakout to the upside, or we could see a nice continuation tomorrow and Thursday. Friday, due to cyclical indicators (not shown) appears to be down day. Let's see if the DJIA goes up tomorrow or makes that long-awaited reversal (long awaited by me, at least!).

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