Monday, November 02, 2009


A quick look at the Weekly charts of the Russell and Value Line Indexes:

Are they leading the SPX?

This 90 minute chart of the SPX thinks so:

There is a lot of economic news due out this week, the biggie probably a cutesy Fed announcement on Wednesday. My guess is that the rally from the March lows is over and much of this winter will be mired in a falling market for equities. The size and severity of the decline is an open issue, another reason to just follow the trend and use protection around your forecasts.


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