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In this agonizingly absurd up/down/up/down market we find ourselves confronting, I thought I would join in the fun by presenting a set of six bullish charts and six bearish charts (all of them of broad indexes), just to illustrate the quagmire. Out of respect for our overlords, I'll start with the bullish sextet.
First is the Dow Composite, which, yet again, reached Its Highest Point In the History of the Universe. (Otherwise known as a 15 Billion Year High).
I could use your help; Slope is going to be completely transformed in the next few weeks, and I'm trying to pick out a logo. I've chosen my five favorites (out of many ideas submitted). You can click on any of these to see a larger version. Please pick your favorite. Thank you!
Yum! Brands (purveyors of such healthy fare as Taco Bell and KFC) is taking it on the chin today. I have no position in this now, but as it fights its way back to that gap at 63.90, I think it makes for a terribly-attractive short.
Feeling frustrated? Thinking this year sucks out loud? You are not alone. One look at the NQ for the entirety of 2013 says it all. Lucy is snatching the football away from bulls and bears alike, depending on the day.
ES and SPX broke the current uptrend with a lower low yesterday. On ES this was a momentary break below 1491 support. We're seeing a strong bounce at the moment, signaled by RSI divergence and a W bottom on the ES 60min chart at the low yesterday, but the chances are that an interim top is now in or being made. An H&S may also be forming: