Wednesday, April 15th, 2009
Drawing the flamin thing shows no market uptrend yet
One of my old maths teachers used to scream at us to “draw the flamin thing” when we were stuck at a problem; I assume it was in geometry or something. But it also applies to charts and market analysis.
As I said in yesterday’s post, one of the signals we’re in a bull market is when we begin making higher highs and lower lows. I’ve found that ‘drawing the flamin thing’ on weekly charts helps to get a good perspective on where the market’s at.
Looking at the chart above (click on thumbnail), it’s clear we’re some way from an uptrend — and therefore new bull market — with the S&P500.
Word Count: 110. This entry was posted on Wednesday, April 15th, 2009 at 4:29 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
