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, the free stock alerts, market alerts and stock charts website