Monday, July 03, 2006

The Technical Indicator

A special edition of Mike Ashbaugh's Technical Indicator - U.S. Markets Finally Come to Life

2 comments:

monkeydust said...

Do you agree with his assessments, Jamie? I'm all cash right now in my trading account. The rising inflation and slowing economy doesn't fill me with much confidence.

Jamie said...

Hey monkeydust,

Yes, I agree with his assessment, especially where it concerns the Nasdaq, which he says is the weakest of the three. At this point I'm all cash too. The Nasdaq broke a long-term trendline in early June and Monday it retested it with a kiss. The next few sessions should give us a better idea as to whether the trendline breach was a bear trap, or if we are indeed heading much lower.