My Market Analisys

Market breadth, don't be surprised if you see the financial media start rumors of rate cuts, osama bin laden rumors. I saw this during 2001-2003 when the market were tanking.

 

ADX curling up, area of support 13350-13400. We could see a 1000 point drop, the same way we saw a 1000 point advance.

Everyday tells a new story,anything can happen.

 

Weekly DJI chart

 

Monthly chart may be calling a major top.

 

I hate to point out the obvious, but the market is still in an uptrend.

 

Until that Feb lows gets taken out, we are still technical in an uptrend. It may not feel like it after this week but thems the facts.

 

You should be paying more attention to SPX charts and how it broke the trendlines and almost touching 200 day moving average, rather than look at the DOW charts and act like a market Technician.

Good Luck with that.

 

I don't trade the S-P, i'm not doing this for you, it's for my reference. I trade YM so thats what I look at.

 

Mid April thru early May advance supported buy volume. Early July advance on declining volume.

 

Price broke support on Friday, price now testing resistance.