A Massive Chart Dump - P2 Analysis Wrap-Up
.... And by "Chart Dump", I don't mean all these charts belong in the toilet :)
So like I said on Friday, I wish Primary 2 was done, I *want* Primary 2 to be done. I just don't think it is done. But I do think it is very close to being done, next week looks very likely for the top.
But the whole point of this post is to look at a whole host of indices, sectors, asset classes, and sentiment indicators to show that there are some very substantial divergences taking place. Some of the "leader indices" show that they have already potentially topped (are not making higher highs with the broader markets). The Dollar and the VIX may have already bottomed. Volume is drying up (or at least substantially declining) in most of the indicies. In short a lot of the signs that we expect to see with Primary Wave 2 have occurred, and things are more or less "on track" for a large trend change in equities.
The other reason for this massive update this weekend is that our first born child is due any day now, and my blogging and chart updates will drop of dramatically next month. binve's life is about to get a lot more interesting :)
This post contains a lot of charts that I show often, but every chart is completely updated with new annotations and analysis. I believe it is a useful post and tells the picture of the markets from a macro view. Enjoy!
Original Post can be found here: http://marketthoughtsandanalysis.blogspot.com/2009/08/massive-chart-dump-p2-analysis-wrap-up.html
.... continued in the Comments section ....
Please feel free to comment, disagree, discuss. And even if you don’t agree with my conclusions, please rec if you appreciate the effort or the explanation of my thoughts, even if you use them draw different conclusions than mine.
The binv standard disclaimer: This in no way constitutes investing advice. All of these opinions are my own and I am simply sharing them. I am not trying to convince anybody to do anything with their money. I am simply offering up ideas for the sake of discussion. As always, everybody is expected to do their own due diligence and to ulimately be comfortable with their own investing decisions.