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northam43

11/18/11 11:15 AM

#1365 RE: Torqputty #1364

Torqputty - You won't see a blood bath at this point. This whole Bear market has really been pretty mild. If you look at the long term charts (Weekly & Monthly), right now it's the Weekly that is applying the greatest downward pressure, look at the MACD(12,26,9) the Weekly is below the zero line, the Monthly is still well above the zero line. So until the Monthly gets below the zero line (if it does during this Bear), there will be no major cliff dives.

The good news is the Weekly MACD is trending upward and not to far below the zero line.

Also another sub indicator I use, the CCI(24), the Monthly CCI, is above the zero line and trending upward, the Weekly CCI, has just dropped slightly below the zero line at 0.91 this week, if it closes today at or above that zero line, that could be a very bullish indicator, on the other hand if it closes below the zero line, that could indicate we have more downside coming next week.