resumption of the bull market?

Discussion in 'Technical Analysis' started by gharghur2, Oct 31, 2005.

  1. I'm seeing a myriad of bullish technical signals just about everywhere I look: p/c ratios, vix, advisor sentiment, strong commercial buying, recent oversold levels that have indicated intermediate term bottoms, 3-year uptrend lines that have recently been touched, possibly a completion of the base building process in the SPX/DOW similar to Apr 2005, a potential washout gap down selloff in the SOX index, and five waves up in the NAZ/SPX/DOW from recent lows.

    Unfortunately I can't list all the charts here. Go to:

    You be the judge!
    FWIW: it's looks like pretty impressive evidence for the bull market to resume...
  2. This morning looks like a third wave thrust...
    See chart:
  3. yep.
  4. just labeled that chart
  5. I don't see any change in trend but stocks are oversold. The Dow should be back somewhere between 10700 and 10800 soon.
  6. Trend reversal? not yet...

    I will get a confirmed trend reversal when the DOW closes above 10,536; SPX above 1227.
  7. Since we seldom talk about stocks without talking about oil, I would say that oil doesn't look like any threat and will continue its peaceful and tranquil journey in the $60-$61 range for a few more weeks.
  8. I'd have to agree
    Have not looked at it today, but as of last week:
  9. Its below $60 now and it isnt that tranquil. I will bet you it goes lower. would u like to wager?
  10. Not after you look at my chart :)
    #10     Oct 31, 2005