Mark Lytle's Blog – December 2009 Archive (5)

Looking at the bottom chart we have a set of overlapping nodes (a .5000 and a 1.000) on December 28th relative to the A-B-C patterns I have labeled. This is only occurring on the $NDX, nothing similar is happening on the $SPX. The $SPX has it's own story, covered below. The $NDX chart (the one in the middle), though, is more interesting anyway, as it looks like that index is attempting a breakout through the trendline that has contained it. Where it stands at the moment, it has not yet achieved… Continue

After some signs of weakness last week, the indexes are having their Christmas rally. This short term move is probably about exhausted as we hit the upward curving trendline again. But so far any confirmation of an end to the slow grind upward is not evident...

Notice that on the Microtrendlines chart, the $NDX did manage to strike the trendline (barely), but has formed a small double top...



A time to be alert...If the dollar rally gets real legs, the equities markets could have real problems...



I've been anticipating this for about 3 months, but we still are waiting on the needed verification....all eyes on the dollar...

For a version of this chart you can click on and… Continue

This highlighted light green trendline has capped every advance in the last three months..now the $NDX is barely able to reach it, it seems...

These are still being followed...