A board to discuss and forecast various market cycles ranging from macroeconomic trends to daily price movements in broad equity, fund, currency, bond and commodity markets. We will utilize any technical indictors; strategies; and economic and fundamental data that can effectively predict the probability of a change in trends. The IBox will contain various speculations that I have on the markets and I will update it from time to time as I see fit or when I have time. Rules of the board: 1. Civilized discussion. No blatant or personal attack will be tolerated. 2. Please keep discussions unbiased and try to provide both upside and downside speculations. The key to success in the markets is understanding risk. 3. This is a learning environment. Please keep pride contained. No one knows everything and no one ever will. We can only do our best to try. 4. This board is primarily a vehicle for my own trading and as a means of obtaining constructive criticism.
NYSE Composite vs the NYSE Summation
What I am looking for here is divergence in summation relative to price in the NYSE Composite which is what Summation tracks. You will recognize that the July 2002 low in the NYA resulting in a deep low on Summation. While price trended sideways in the NYSE Composite and most market indexes the Summation signaled a higher high in October and by April of 2003 there was still an even higher high in Summation with still a trending market. If current Summation does not break the -1200 previous low and signals a higher high then we are probably about 3-6 months form a major market bottom for another multi year rally as the business cycle resumes.
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