Wednesday, December 22, 2010

S&P - December 21, 2010

Quick Takes:

  • S&P makes a new uptrend high
  • We finally have a high (microscopic high) in A/D line
  • Long-term trend is up. Mid-term trend is up. Short-term trend is up.

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You need a microscope to see the new high on A/D line. It will be better if it makes more highs. I still cannot take it lightly that it has lagged the price on this stretch from Nov low





Price is behaving alright -- So Far --, but inability of bears to force a meaningful correction may run the risk of buyer exhaustion



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