Seems the only way the bull get any traction lately is from the overnight jam session in the US futures. The AD ratio is what you need to watch during these overnight jam ups. Looks pretty wimpy o far.
news from the housing permits along with fannie and target are a complete negative for this market, surprised they arent cancelling out hpq earnings and that wonderful goog upgrade.
Yes, i have same question... do you build a custom index for overnight AD or? <img src="http://www.enflow.com/p.gif">
That does read a little confusing, what I meant to say was after the overnight jam up watch the AD line during the day. Couple more overnight jam sessions and that big selloff will be history. The bulls can't open the market flat and make gains the need the overnight jam up then try squeezing the shorts seem the only thing that works for them lately.
Watch these clues, they played an important role in that 350 point Dow rally this past week. Dow kept surging higher as the AD line stayed flat. Today its even getting weaker as the indexes move up. These internals are hard to mask. Thin holiday trade tomorrow and Friday will give the bulls a slight edge, and they will take advantage even though its built on shifting sand.
Thats like saying sweet is sweet. sweetness now comes in may forms some natural some synthetic. Decliners ramping up as I type, AD line says bulls suck. The only way bulls can get any traction is fed rate cuts rumors. Now tell me agian what good have rate cuts done for the market?
We're in a rate cut cycle. This is almost always bullish. The first few cuts havn't had the desired upside, but there will be more cuts. I dont see these subprimes and credit liquidity issues getting any worse. Shorts are running out of ammunition. Without a steady infusion of subprime stories and writeoffs the market will surge huge.