BullBear Trading: Stock and Financial Market Technical Analysis

Using the important swing data points from the March '09 rally bottom
to the presumed Jan '10 top, We see a narrowing of the range of the high and low
data at the .125 (1/8) node and the .250 (1/4) node, for the Russell 2000
and $NDX, respectively. These numbers refer to the present values on
the 'x' axis. Important nodes differ by powers of two (1/8,1/4,1/2, 1,etc.)...

This means we could be at or near the top of the
smaller scale rally that started with the bottom on February 5th. On
the $NDX, the candlestick we see is a 'hanging man' often seen at tops.
We need a day or two for confirmation on this.....



Short term sentiment is also getting fairly extreme...

From http://www.sentimentrader.com/

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Comment by Steven Vincent on February 18, 2010 at 12:29am
I do think that the rally is over and went short today. I think the downtrend is set to move and a big deflationary wave may be at hand.

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