HAPPY TRAILS TO YOU!!! PLUS WEEKLY MSW UPDATE

7:00am: This is friday morning, gotta hurry as the truck is warming up, but I couldn't help myself. I was flipping through the money stream numbers on the Russell 1000, and CREE showed up with one of the most negative out flows. What this is, is one of the most perfect examples of one of my favorite patterns, that I've seen in some time, the "Avalanche". You get the initial break down through the 20dma, then, this thing did a perfect little three day bear flag back up UNDER that 20dma, then gapped down yesterday and closed under the previous days low. This thing has short written all over it (which mean's it will probably go to da moon, hahaha), with a stop over that 20dma, or the high from two days ago. If it doesn't find support around that previous pivot low at 34, from four days ago, it will go after the gap fill under 32. I hate this outfit.
Lator Gators.

NO, it's not one of BZ's trading systems, http://bzbtrader.blogspot.com/ , it's a Happy Trail's to you, because I'm getting the hell out of DODGE!!! For god's sake, don't tell the fricking Blog, it took off on vacation earlier this summer, and now that it's after Labor Day, I'm talking off, the stinking Blog is on it's own!!!!! I take off at this time, because everybody has come back home, and they usually lower gas prices by about a dollar, hahahahahaha, the ROACH's, I just went by the station here, and they RAISED them a dime, all because they knew I was leaving!!

Anyway, I got my old Boy Scout Troop clothes out, as I'm heading out camping with the kids, at the most beautiful lake in the world, Convict Lake (I will probably see a lot of our Wall Street whiz's, and Senate and Congressional leader's there, hahaha), next to Mammoth, Ca., http://californiafishingonline.com/convict_lake.html , although I think that Anderson Meadow here in the Beaver mountains is more beautiful. I usually head across the loniest highway in America, http://www.cmdrmark.com/20004.html , but I feel wild this time, so I'm heading out the Extraterrestrial Highway, http://www.rachel-nevada.com/ethighway.html , woooooo hooooo, beam me up Scotty!!! I'm taking my camera, in case I get any shot's of UFO's hanging around area 51, plus, I think I pass by the Atomic Cafe, I went in that place as a kid, like, 50 years ago.
Anyway, I have no stinking idea when I'll be back, if the ET's have conquered time travel, and they abduct me, hopefully they'll bring me back, like, five seconds after I write this, hahahahaha!!!!! I'm taking the new, eeeeeerrrrr, "OLD", truck, which only has one gas tank on it. I've scientifically calced it out, the longest strech between gas station's on the Loneliest Highway is 267 miles, it appears, the longest stretch on the ET Highway is 288 miles, and I swear, SWEAR, I can make it 289 miles, if I hold it under 70 MPH. No Problemo!

Anyway, I posted an early update for the MSW, and the Sector money flow's and stuff, not much commentary, as I'm getting loaded up and ready to go in the morning, and I got money to go, as this is the huge WOOOOOOOOOOOOOOO HOOOOOOOOOOOOOO, below:

Hahahahahahahaha, even a dumb shit old MF'er like me hit's it lucky once in a while (actually, it more than make's up for the dumb shit old MF'er's position in AMAT, hahahaha), change for the road, it is. I actually took half off this afternoon, which pay's for the rest of the position (it's an option position), which I intend to hold and see if it will hit my target I mentioned here, http://cluelessqtrader.blogspot.com/2009/09/plutocracy-trade.html , in the $21.50 "area".

So, Happy Trails to you, and good luck to you all.

The weekly MSW signals for the ETF's, I don't really care for much of them, but the software seem's to hate Japan.

MSW long and short signals for the daily chart of the ETF's. I hate to say it, but MOO looks like a short, poor Moo cows.

Daily swing trade long and short signals for the Russell 1000.

The buys and shorts on the weekly charts, for the Russell 1000, IE, longer term swing trades.

MSW buys and shorts for the Russell 2000, on the daily charts, IE, a 7 day swing trade.

This is the money flow in the various sectors over the past week. BLOW ME OVER WITH A FEATHER, it was no surprise that gold and some of the metals were toward the top, but the XLU and IYR had the biggest money surge this past week, very surprising if you ask me (you didn't!). Bonds had the only negative money flow this week, also surprising, as they are actually UP since monday, as shown in the TLT.

These are the top and worst performing sectors over the past month.

These are the Industries showing a strong money surge over the last week.

Watch List Part Doce

KEY is attacking it's prior high at $7, with some decent volume to go with it. The pattern shows a possible 1 dollar gain, which fits exactly with the air pocket between 7-8 bucks. If it can get through that area, it "could" see the 9.50 area again, in short order. This is just what I need, another shit financial to get involved with, hahahahaha!
Speaking of shit financials, can some one explain to me why JPM is higher than it was a year ago, while they still have those tttrrrriiillllion dollar plus, in toxic waste assets, that our friends in da government have allowed to keep off their balance sheet?????

I've "invested" in the Canadian gas trust's off and on over the last ten years, mainly because of their dividends. There are some tax issues with these, so check with your tax advisor. PGH is one of my favorites, I have also liked PVX and AAV, both of which look similar to this. PGH has a beautiful ascending triangle on it, and is just starting to break out over the prior $9 highs, on higher volume, PVX and AAV also had volume break outs. This thing pay's a 12% dividend, and in it's "prior" life, IE, before the oil collaspe, it spent most of it's life between 15 and 20 bucks.

This little peice of junk looks interesting to me, beside's that, every time I slur my words a little, my kid's start talking about what a beautiful view of the "Sunrise" I could get, living in one of their units, THE ROACH'S, hahaha! It's trying to break out over the $3 "area", under some decent volume, and "IF", they can get through it, they have a huge air pocket back up to the $16 "area", and maybe beyond. I mean, the thing is basically an option right now, and has the possibility to be an eight to ten bagger, if they get hot.

ERTS is one of those "things" that I fool around with, I think the last time was the April to May period. It has pulled back to those very same April to May lows, and set up a little double bottom, with a nice bar on it yesterday, with decent volume. This thing could easily go back to the 20+ area, and you have the seasonality play on your side, as it's strong period is from around now, through the Christmas season. I also like the R/R, as you OBVIOUSLY don't want it under that DB, as it could easily see the $15 area again.

BARRY ME II !

I am NOT, making fun of Barry Rosen here, I actually feel sorry for the guy, how was he supposed to know we were going to get this unbelieveable pump YOB in September??!! Anyway, he's obviously back tracking a little, and kind of going out on a limb by blaming the PPT and GS and da government, IT'S DA GOVERNMENT, MAAAAAAANNNNN!!!!

Anyway, it's my duty to post this, since I posted his prior forecast in August, http://cluelessqtrader.blogspot.com/2009/08/barry-me.html (have I really been screwing around with Mr. "T", since August, hahahaha).

My own personal opinion, and it's ONLY MINE, is that this is the biggest peice of shit rally, off a so called bear market low, in THE STINKING HISTORY OF LA LA LAND INVESTING (well, maybe not La La Land, but at least, it is in OUR markets). Never, have we had a bear market bottom, that led into a sustained bull, La La Land, market, that started with a P/E over over 140 on the S&P, with a dividend yield under 2%, all the great bull markets started with the 10-10 rule, P/E's under 10, and dividends at least 10%, hell, Rosenburg said recently the TTM P/E was closer to 184! The thing that really bothers me, is the sentiment I was seeing in March, I can't tell you the number of yakking screaming yelling analyst, calling this the buying opportunity of a life time, and, SO FAR, they were RIGHT, the ROACH's, hahahahaha! Where was the FEAR?? You don't get bear market low's until NO ONE, want's any thing to do with the markets, much less a bunch of people calling an over valued peice of shit THE BUYING OPPORTUNITY OF A LIFE TIME! What I'm starting to see, is the PROJECTIONS coming out, of earning's on the S&P, for 73 to the mid 80's, for the next year. You have to watch the liar's, as a lot of them like to use operating earning's, or some other lie, BUT IF YOU RECALL, "THEY", were calling for earning's in the 84, to over 105, area, for 2008, and they ended up being just a little, aaaaaahhhhhh, pollyanna!!!!! I, personally, don't see the consumer supporting any thing CLOSE to that over the next year, probably for the next few years, the only way "THEY", can make these numbers, is to keep cutting cost's, IE, cutting JOB's, which of course, continue's the great negative feed back loop.

Wad ever, enjoy:


Hot Markets OutlookBy Barry Rosen

DEC. S&P e-MINI HOURLY CHART TREND: Topping and lower.

DAILY CHART TREND: Higher to 1054.50 and then lower.

WEEKLY CHART: Higher into Oct. 9-12 or 16 toward 1100-1130.

OVERALL: (9/15) We are favoring new highs into Oct. 16-20 toward 1100-30 on the S & P 500 futures and at this point we think that pullbacks will be minor from Sept. 20-28 -- maybe 47.50 points. We can still count on some upsetting financial stat over the next few weeks but the government will likely cover them up. For example, while unemployment was at 9.7% if you include people that gave up on looking and part-timers seeking employment, economists indicate that 16.7% is the real number. The current 29.5-year cycle creates messes like this. So far it has not created a crisis in markets except for increasing volatility but behind the scenes it is still messy. The government will keep Goldman Sachs and their fingers on the dike as long as they can. The PPI, which came in today at 20% annualized, is starting to wake up the inflation bears.



SEPTEMBER: (9/9) Fear cycles dominate Aug. 31-Oct. 4. Statistically in months where July and August were higher, September only fell .4% on average since 1920. Still, once crude starts falling again, stocks may fall a bit. The Plunge Protection Team at Goldman Sachs keeps their fingers in the dam, sell-offs may be modest. An amazing October rally could get people crazy but it will fade and we will fall into November and do other lows into Jan. 15, 2010 and March 21, 2010. The October rally could go to 1100 if the market does not really fall that much during the September swoon.

LONGER-TERM: We cannot see the stock market making new highs the rest of the year after Oct. 12-20 but there still appears to be one last strong rally in September on the coattails of crude. This is the Year still of False Optimism still and that cycle still dominates so people are unrealistically going to play that the economy is alright but a number of other cycles in the fall will continue to show that the Emperor has no clothes. Probably that will be in the latter half of 2010 into 2011. For now all the trillions of dollars that the U.S. and China have thrown into their recoveries has to have an effect and the positive side of that should end by June 2010. We still need to do more research to see the direct effects on the United States but Obama is not likely to be a happy camper by the end of August and early September. Crude may benefit at times from these cycles but will stocks continue to follow crude under some rather messy conditions coming up?

LONGER TERM COVERAGE: For a complete long-term analysis and long-term overview of charts and patterns and key dates into 2013, see our new product, Fortucast Financial Visions of the Future with a new update 9/8/2009.

CHICAGO DEC. MINI-GOLD (electronic)

DAILY CHART TREND: Higher toward 1033.60 and eventually 1050 into mid-October. WEEKLY CHART TREND: Higher toward 1050 and the October high could be higher on flight to quality if financials fall.

BIG PICTURE (8/28) Gold has been a tough market to play and everyone is expecting record numbers but they may have to wait a while. The best upward play for gold will be from March 2010-June 2010 shorter-term and then a position trade should be done around Dec. 2010 with a hold into 2013. We might get 1120 or higher to 1200. Moreover, a major deflation thrust hits June-Dec. 2010 and gold could even go down to 750 then if crude collapses. Gold bugs really have to wait until 2011 for "The" major buy and may not find instant gratification until 2012-13 when we should hit 2400 to 3000. And that may only be if the U.S. does not take gold off the market like they have done in similar crises. Our biggest concern is a potential H1N1 Flu pandemic. We are not clear whether it will lead to major buying out of fear or major selling on earlier than expected deflation. Still, there is enough of a rally from the fall low or the March 2010 secondary low to make big money into June 2010. Those waiting for the hyper gold cycles will have to wait probably into Feb. 2011-Dec. 2013. We think the dollar will become worthless or near worthless into 2012-3 and that gold will become king again. Prices project 2400-3000.



NEAR TERM: (9/8) This fall, the cycle that led to gold spurting up with crude from the middle of June to the middle of July is repeating and should influence gold again into Oct. 12-16. We had thought the cycle would start from a pullback low into mid-September but that is not looking like the case as it broke out during seasonal strength for Muslim and Hindu buying in September. While we do sense we will easily see 1034 or 1050-60 into the October high, how exactly it gets there may be tricky. The best cycle low appears to be Sept. 21-22 but we are not clear on prices. Pullbacks may be $20 congestive affairs but we could see 971 or 943.80 if something weird happens. Linear cycles may be inverting and it may be due to the fear cycle that is dominating this money as people are rotating out of stocks into metals during seasonal strength. We are thinking that we may be totally wrong about gold but we still have a linear cycle high due within a few days and if 1020 comes in quickly, then it will have to do a retracement.

OVERALL: We will assume that this market wants to go to 1033 or 1050-60 but it may fake everyone out and fail to accelerate. The good news is that a 5th wave higher into Oct. 15, 2009 should take the market up 140 points from the congestion low on July 8 and that would project 1050-1060. With crude taking off into the October high, we are not sure what higher numbers will come. We do have a large 3-wave retracement due after October into the March 21, 2010 cycle low.

OCT. e-mini CRUDE (electronic)

DAILY CHART TREND: Lower to 63.27.

WEEKLY CHART TREND: Higher to 79.78 into Oct. 9-12.

NEAR-TERM PATTERNS: (9/1) It appears that the 79.12 region may be more likely for the high of the year into Oct. 9-12 if crude can hold the 62.20 region. The upper target of 81.43 has a 40% chance.

LONGER-TERM PATTERNS: (8/28) We are starting to think that the June 2010 cycle high could be a massive run away high and could easily go to at least 120 or much, much higher. The October high is clearly projecting 81.38 or so. Crude has made major highs on decade years -- look back at 1970, 1980 and 1990, 2000 and now 2010. There are world forces that attempt to set the price of crude and the plunge in crude was meant to hurt countries like Venezuela and some other countries. There will be one more gonzo rally before the next inflation cycle highs due around June 5, 2010. The intermediate picture is more complicated but it looks like the June 2010 high may only realistically be at a minimum of $105 but it could even go to $250-300 are very possible. There are also a number of wild card factors operating. Firstly, war cycles will increase dramatically from Oct. 2009-May 2010. If the H1N1 flu pandemic hits really hard, it will start earlier deflation in which case the March 2010 secondary low may be much lower. This market has more chances to go up than to go down at times but a fall from Oct. 15, 2009 until late November could plunge the market from 81.26 to 55.00 and possibly lead to a congestion triangle into the March "e" wave low due around March 21. From there crude may wildly take to over $100 or much more. Still, it does appear a strong rally from Sept. 17-Oct. 15 could be $20-24 and take the market to a new high to 81.26 or max. 85.50.

SHORT TERM PATTERNS: (9/8) Our chart is skewed as the cycle high toward 79.78 or 81.78 may not come in until Oct. 12 or 16 at the earliest and then we may start a congestion from there. At the moment we are projecting 62.78 into the Sept. 22 cycle low. From there a quick sharp rally into Oct. 9-12 is due. The high for the year should be in 81.43 by Oct. 12 or a retest Oct. 16 and the best entry should be late September -- possibly as late as Sept. 25 but could be a week earlier.

Watch List

WMAR showed up on the down four days in a row, plus an inside day, it's actually on TWO inside days. I like this long pull back, plus it found support at the open of the gap up in July, and it's been walking up the 50dma, PLUS, it has a very tight stop point, under that 50ma. I figure Wall Street and Congress and the Senate are going to be buying a lot of boats, cashing in on their rape of America.

FDO showed up on the "End of Fall" scan, that's where it made an inside day after having an RSI5 under 15, and also in this case, has fallen more than five days in a row. I'm midly interested, as it's fallen back to a congestion area from the March lows, your stop is TIGHT, and it was not that long ago that this thing was a darling of the MoMo crowd.

I've been waiting for this on LVS, it's an outside day with huge volume, obviously a probable blow off top. I've been waiting on this, for a chance to get into it, long, this is not the time, I need to see some kind of setup, who knows how far it can fall, or it may just blast off to new highs tomorrow. I didn't check, but I'm wondering if some of the other casino's had the same pattern on them. There was almost 300 outside days to day, to many to mention.
Hmmmm, I checked on da udder ones, WYNN and MGM, they both had the same pattern today, "USUALLY", when the whole industry put's on the same lousy pattern, it could possibly mean the "players" are leaving town, after losing all their money at the tables.

Macy's, M, had an inside day, after a couple of big up days, with the STOCH rolling over. I only bring it up, because I hate the fricking outfit. A few other notable inside days include NVLS, CRY.

I bring up JBHT and YRCW because their patterns are similar, they both showed up on the Moon Shot Over scan, RSI5 over 85 with an inside day, or doji in the case of JBHT, YRCW is actually coming off two inside days, and both have rallied up into an area of prior resistance. ALSO, the transports, IYT, ended up DOWN today, on this decent pump job, a notable divergence to the BS going on in the rest of the market.

SYSIN brought up DOW 10,000, hahahahaha, I mentioned that a while back, about CNBC dusting off their DOW 10,000 hats from like 10 years ago, sigh, the lost decade, ain't this rally just stinking vundervul!!

I have no intention of shorting this stupid thing, until it starts to dump, a DECENT dump mind you, and then starts to rally back up. I will then be looking for a lower high set up, and short it when it makes a lower pivot low. It could be a while, before it does any thing like that.

BDI

I've talked before about the current divergence that's been going on in the Baltic Dry Index, with the world stock markets. It's not a perfect indicator, like, it made a new high in May of last year just before the collaspe, but it did bottom in November of last year, and went up into the market lows in March, before making a higher low in April. This thing has been going down since June, and is on the verge of breaking down some more.

This article offer's an explanation of why this might be happening, http://bit.ly/1zB6sQ, the ghost fleet, some really interesting stuff.

Watch List

AMAT is one of my favorite stocks to trade, I'm using this as an example of THREE scans I use, No. 1, it's pulled back for three consecutive days, No. 2 it's an Inside day, and No. 3, it has a doji. I mean, it just don't get no better than this, PLUS, the stinking thing tested the 50dma, and bounced back to the open. Now, obviously, it's in a down trend, BUT, after making a couple of lower highs and lower lows, the current pull back is coming off of a higher high, and it, "COULD", be making a higher low. I take these over the high of today, or thereabouts, with a stop under the low, in this case I may put it under that rising 50ma.

Now, NUAN, is the total opposite, as I hate this outfit, but it also showed up on three scans, a doji, up for five days in a row, an inside day, AND, it showed up on a fourth scan, RSI5 over 85 WITH an inside day. I consider this a short, obviously, and the reason I like these setup's is that you know exactly where your stop is, some where above the highs, depending on your R/R. The other thing I like about NUAN, is it put on this "hanging man" right at the previous high, IE, a double top.

Other doji's that look interesting include FORM, MKSI, and a couple of BOF's, break out failures, that put on hammers in the process, CXW and JBL.

TSYS looks similar to AMAT, it's down 5 days in a row, and tested the 50dma, I beleive this also showed up on the outside day scan, although it doesn't look like it to me. I like it because it may be trying to make a higher low here, after coming off a higher high, my stop would once again be some where under the 50dma.

Wally World, some times called Wal Mart, WMT, had an OUTSIDE day, now, ordinarily these might be considered "continuation plays", IE, WMT definitely looks like shit, and could continue lower, but I'm actually looking to try and get long this thing, at some point. The down day is to big for me, my short stop would be up above the previous high, the 50dma is trying to cross the 200dma, and it tested, and held the 50dma. But the big thing, to me, is the volume, this could be a capitulation day, I'm definitely going to be watching it.
Other outside days include FFIN, FFIC, MMS, AEO, LBAI, LOW AET, we had a whole bunch of these today, over 200.

And oh, by the way, I stopped out of C, peice of junk, I was thinking about adding to it, but I don't really like the outfit, and the news about the "possible" stock offer is enough for me. Que Sera Sera.

THIS MARKET GIVES ME THE "WOOLIES", MAAAAN! WHOOOOOP!!!

http://en.wiktionary.org/wiki/give_someone_the_willies

Actually, it kind of reminds me of this, http://www.youtube.com/watch?v=ppxsWLXVs3E .

THE BEST LINE OF THE WEEK: Serena Williams invited Joe Wilson to be her doubles partner!!!!!!!! HAHAHAHAHAHAHAHAHA!!!!!!!

Telechart Scans

I did some work this weekend, and coded some Telechart scans for my favorite candle setup's. I couldn't get the stupid thing to work over the weekend, but when updated a while ago, waaaaa laaaaaa, they magically showed up, hahahahaha, stupid software.

Anyway, I REALLY, I mean, REALLY, like a lot of these charts:

DOJI: I especially like it when Doji's show up at the end of runs, or are long tailed, and even better, if they come with a volume surge, I haven't coded the volume surge in yet, but of the bunch below, I like SWHC, mainly cause I'm a big customer of theirs:

BRCM, SLV, HSY, IFLO, UNTD, SRZ, GMT, SFD, HRB, LNY, SWHC, RDY,

INSIDE DAY: self expanatory, also best at the end of runs:

CL, OMC, VRSN

OUTSIDE DAY: Only one that looked half ass decent:

COH,

MOON SHOT OVER: This is an inside day, with the RSI5 over 85, IE, over bought, these all look like decent shorts:

PCS, EMC, CRM, VMC, HRS, EXPD, ZMH

I also have one called END OF FALL, again, an inside day, with RSI5 UNDER 15, nothing showed up. Excuse me, actually, one possible:

LBAI

IT'S SO SIMPLE, IT SCARES ME

The main feature of this daily $SPX chart, is, of course, the rising bearish wedge, well, actually, there's THREE wedge's in it, there's the main wedge that goes to the March bottom, then there's two wedge's that came off the July bottom, the first of which put all the bears into a tizzy when it broke to the down side, it then made the September bottom, and is in the process of a "throw back", as described by Bulkowski in his wonderful site, http://thepatternsite.com/risewedge.html . One of his important feature's for this pattern, is falling volume in the course of the wedge, and you can see that we've had that since the first high made in May. More support for the wedge is that all of the indicator's have been setting up some pretty extreme divergences, for even as price has continued to grind higher, they have been making lower highs, especially the MACD. And even more support for it, is the extreme over bought readings we've had in things like, the percentage of stocks above their 200MA, as it's been at almost record highs for quite a while, the last time they were this high was in 2004, just before we wandered down for most of that year.
So, like I said, this is so simple, it's, well, actually, it's stupid simple (both those words fit me to a tee, hahahahaha), I would short this thing with a break of the main trend line, currently sitting above the 1000 "area", and I would get REALLY excited if we could break below that 975 August pivot low, as we have a virtual air pocket, or VOID, that was left off the run up off the July lows, in the circle. Even Bulkowski admits that an upside break out of these things is very rare, which brings me to what I "think", may REALLY happen, hahahaha!!

I personally counted all of them, and there's some where north of about 52 million bloggers in the WackoSphere that are talking about this wedge, plus the seasonalities are very poor, as we usually make bottoms in September and October, and then blast off into the seasonaly stong period of November into May, plus, the odds of this wedge breaking to the upside are about a million to one, PLUS, I "think", and I "hope", that it does break to the down side, all of which leads me to believe, it's probably going to break to the upside, the ROACH!!

We had this same pattern in June, when we set up divergences in the indicators off the May to June highs, and dropped into the July lows, when we broke to the upside off the earnings pump.
What I'm seeing now, is that we already had this pattern setup from the early August highs to the late August highs, and then worked the over bought situation OFF, with that quick drop in early September. What's happened now, is that we've broken those down trend divengence lines, to the upside, on both the STOCH and the RSI5, plus, the MACD is just popping it's head above that line, and the MACD histogram has turned positive, which leave's open the possiblity of an over bought continuation break out to the upside.

The weekly chart is VERY close to entering into a very clear air pocket, or void, that could allow prices to move fairly quickly up to the 1200-1250 "area", should the market god's decide to take us there. We are sitting under a little high we made in October of last year, 1044.31 to be exact, and above that there's nothing but clear air above, IE, Adio's MF'ER!

My preferred senario is the pull back, naturally, but I'm leaving myself open minded to a possible upside break out. If "they" do take us higher into earnings next month, my senario at that point, is they rip us higher through October, as the blathering yakking talking yelling screaming talking heads and analyst scream about all the great news, as GDP will probably surprise to the upside, and start convincing the Mom and Pop investor's, that they absolutely HAVE to get into this market, for the "BEST SIX MONTHS" in the market period, November into May.

Then, FINALLY, we start down in November, surprising everyone, leading to the breath taking final Wave C down that the Bobber's are talking about, Pretcher and McHugh, crushing all the dreams and hope's of all the polyanna's, and leading to my final target price of 5 bucks in the SPY.
A guy can dream, can't he???

One last fly in the ointment that continues to concern me, as far as the upside break out, is those damn summation index's. Number one, those most over loved peices of junk, the NasDogs, continue to diverge against the NYSE. Number two, the NasDogs made a lower high, even as price was making a higher high, not good, and their indicators are continuing to trend down. On the udder hand, the $NYSI DID make a higher high, with the new price high, BUT, they have a clear divergence on the indicators, on that new high.
I mean, it's possible that they could turn this around, and start trending higher, but the tendency has been for the summations to continue to trend, once they make a break on the weekly charts. We shall see, but the STOCH is showing it has a lot of room to the down side.