From Jeff Clark in Growth Stock Wire:
Three weeks ago, I pointed to a chart of the McClellan Oscillator and told you it was time to buy.
We weren’t looking for a major rally, just an oversold, early-summertime bounce that would take the S&P 500 up to about 1,375 or so.
We got as high as 1,363 on Tuesday. Now, that same indicator says it’s time to sell.
Take a look…
Read full article (with chart)…
BofA’s chief chartist Mary Ann Bartels chimed in on last week’s market correction, in which as many observed, the market briefly dipped to unchanged for 2011. As Bartels points out, with the August uptrend now breached, and various technical supports taken out, there is a possibility for another 10% drop in the broader index. Of course, it wouldn’t be a Bank of America report [...]
The five criteria of the Hindenburg Omen are:
1. That the daily number of NYSE (New York Stock Exchange) new 52 Week Highs and the daily number of new 52 Week Lows must both be greater than 2.2 percent of total NYSE issues traded that day.
2. That the smaller of these numbers is greater than or equal to 69 (68.772 is 2.2% of 3126). This is not a rule but more [...]