John Lansing's Trending123
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Technical Analysis Why Todays Rally Isnt Bullish
Thursday, June 15, 2006
The good news

1. Newsletter writers are at highest levels of bearishness not seen in years
2. $CPC ratio being over 1.00 is out of control and some unwinding is in order
3. All time high short interest in the NASDAQ says bears might be over staying their welcome

The bad news

1. We broke support (And are now just backtesting trendlines)
2. We overlapped <--Biggest rule to follow
3. We had a bearish trend reversal <---what this site was built on
4. Stocks aren't working <---this is what puts food on the table (I'm stocked up on tune if things don't change quick)
5. Leadership is gone (all my momo's getting crushed)
6. Banks, and brokers and even my beloved $util index are all in danger of rolling over.
7. Good news is killing this market, and bad news isn't making things any fresher
8. We didn't get a chance to base long enough
9. I'm not making money with my own last batch of swings because of the reversal so how could anyone else?
10. Technical damage doesn't go away overnight
11. We seem to be entering into what I thought might happen last year with the "RST" crash that starts with commodities, I have been hesitant to mention some of the warning signs because last year I was early, but if things keep playing out the way they are, this time around we could be just in time.

CENX--ALSO "AMLN" STOP WAS TIGHT BUT THAT DOESN'T MEAN WE DON'T TRY IT AGAIN IN A DAY OR TWO WHEN THE REAL TREND SHOWS UP
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$NDX
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$SPX
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$SPX
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MY WORST FEAR PATTERN
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THIS WAS A CHART FROM EARLIER IN THE WEEK THAT AT SOME PONT THIS WEEK WE WOULD HAVE A PARABILIC RALLY "SHOCK AND AWE"
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THIS IS THE CHART NOW (IT DID MAKE ONE MORE TINY HIT ON THE TREND LINE BEFORE SOME 50 POINT MOVE IN TWO DAYS UPWARDS)
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