Tuesday, September 01, 2009

Money's footsteps 1- Where did it walk away from?

Equities, the big losers today. Almost every index got seriously hit and many of them lost important ST trendlines and/or resistances. Maybe following China's path , like in 2006-7....

Remember t
his chart analysis? In was the very first chart at the very first post of this bolg. Now it seem like it was ages ago but it has been less than a month (BTW we are near or 1st month of "life" here :))


As I said there NQ is one of my favourites. See the evolution now:





Also its cousin, Nasdaq Comp was a matter of some posts. See the "before" here

And now:






Less evident but even more important, the MCO is telling us that there are more decliners than advancers... First lower low since July ....





Our Cindirella seems to be leading the way down too. Depending on the result of the TL testing, we can find out more about overall mkt strength: