Wednesday, August 06, 2008

Bullish Percents remain mixed

Significant gains for the market helped undo the bearish threat which Monday's support breaks promised. However, not all the damage was undone; bullish percents of large caps are still bearish:



Although in effect, what we have are sideways patterns in the markets. I would not be surprised to see markets spend their entire August in this range.


Will the Russell drift upwards as it did in May?


What of the Nasdaq? 50-day MA very near


Same with the Dow:



Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website
 
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