Craig's Page

It's easy to look at technical indicators and get tunnel vision. Take a look at the following chart:

See the breakout candle? On this day, Williams %R was "overbought". But, look at h

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The S&P looks like it could be in the process of forming a reverse head and shoulders pattern:

Sentiment Trader has an interesting blog post about the S&P 500 and bollinger bands:

"Historically, when the S&P then closes above its upper Band, it rises the next day 70% of the time. That upside bias continues to hold above average during the next week, month and three months, though the edge dissipates a bit."

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This should be encouraging for the bulls:

Lowry Research: Rally Getting Tired But Not Over

"Currently, Lowry is still not abandoning the long side, believing that while momentum is waning, it could take months for the rally to end. This is primarily based on their proprietary Selling Pressure index which has yet to rise enough to indicate that sellers have the upper hand."… Continue

The Dow has hit the 50 percent retracement level this week from the bull market top...

The S&P is pretty close to this level as well. It will be interesting to see how the market responds to this next week!