I find the data you have posted to be of great interest. I see the market like a wound up spring ready to let go. It looks like up might be the direction by the level of the IW. As you may or may not have heard, Michael O'Higgins has predicted a depression in the coming years and starting soon or already. This is the sort of stuff you hear at the end of Bear Markets , so there is that. Where was he at the begining of the Bear trend? Plus all the negative news making the prospects good for an end to this down trend.
Something is up as indicated by the strange reading on your IW and my indicators also. Is the opposite sort of thing shown in the IW right at the peak of the Nasdaq in early 2000? Where the IW shot up at the very peak and gave a very high reading? Not exactly the same but still this current reading is quite odd. The impetus of the IW going down with such great vigor could carry it lower still. I could see a very sharp sell-off with the advent of the Iraq invasion followed by a equal and very sharp recovery. A great buying opportunity!
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