Saturday, January 19, 2008

S&P 500 and Dow 30 Break TD Sequential Stop Loss Points

As if we needed another bearish sign out there, the S&P 500 and Dow 30 both closed below their TD Sequential stop loss points. We should all be familiar with the consequences of that. DeMark says that such a failure in price represents a change in the market and is another bad technical sign for the bulls.

I'm sure they won't be discouraged, however, as they will continue to trumpet the "low valuations" of the market. If there has been anything that I have learned in my studies, it is that P/E ratios are totally worthless!!! SHORT THE BOUNCE!!!

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