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S&P 500
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techcharter

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techcharter

Re: None

Friday, 07/30/2004 7:26:34 AM

Friday, July 30, 2004 7:26:34 AM

Post# of 51875
200 DMA Retesting

Many of the world markets are retesting the 200 DMA. The NASDAQ is by far the laggard. If the ending diagonal Frank and I think will play out wraps up today, the 36% retracement will have been from the wave a of the running flat.

With the bond prices set to turn down, that may be viewed by investors as inflationary. Higher borrowing costs would diminish future stock values with little pricing pressure.

Stocks and Bond prices are more or less starting to move in phase. This is long term bearish for financial markets. Money rotation is being replaced by being in or out of the market.
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