Sunday, May 24, 2009

Rally or Pullback ?? just choppy

We are still trending up as best I can tell. However, market is trading like its getting tired and needs to correct.

I like to keep an eye on the nasdaq bullish percent. As long as we see this indicator above 50 the overall trading bias is upward.

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The Wilshire 5000 is a whole market index containing far more than 6000 symbols. I also use the weekly chart of the wilshire to gage market direction.The weekly 5000 is moving up.

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so my bias in trading remains long!!

Posted via email from fortypercent's posterous

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