Monday, December 8, 2008

Today's Market


-- The market is still in the middle of a downward sloping channel.

-- The 10 day SMA has crossed over the 20 day SMA

-- All the other SMAs are moving lower

Until we're out of this channel I won't be impressed with any rally. However, consider these charts of the NYSE and NASDAQ AD line (click for a larger image):

Breaking through the upper trend line might not be far off.