Gleno, the problem with what that site you posted showed was the lack of what Nasdaq is currently doing. And especially the Russell. The DOW is probably the worst indicator of all because it's just 30 over sized companies that hardly represent anything anymore. It's the Nas and especially the Russell because that is where the true risk taking happens. The NDX is currently in a stealth breakout with the DOW and S&P slowly grinding higher. His charts are correct, but is implying a pretty high odds bet that there could be a hard reversal. But there is no way in hell that's gonna happen here if the Nasdaq stays as strong as it has been. The Nasdaq will drag the DOW and S&P up with it, no matter how weak the stocks are. It's just a fact, jack.
You know what's so funny about what so many of the 'experts' are saying - they are all pointing to how all the oscillators and indicators are just pointing to 'nothing'. If you look at them, they are all just meandering to drifting downward or maybe a tad up. It's got so many people so confused, they just don't know what to do. In the meantime, everything is grinding higher and no one seems to be participating in it. (except people like me).
This is the classic example of what I have said many times about how too much info with too many oscillators just confuses the hell out of you and keeps you out of trades. If you can look at the 'whole' picture, then you can make safe informed bets. Picking major bottoms is actually probably one of the easiest things to do. It's what you can do in between major moves that separates the real money makers.
Man, you guys just watch what's gonna happen. Just watch. Until then (and 'then' is so very soon.....), well, I don't know what to say until then. Just watch those shorts!
No one believes me. I feel so alone sometimes. Anyway, here's how I look at things right now...
Market Data 
Markets 
AI
