Post by DJF on May 19, 2004 20:53:56 GMT -5
Posted on Yahoo board
"Update in - got agree on the nasty day for the bulls, but gotta say, the daily concern over the price of oil is becoming a bore. The chart for oil futures looks sneakingly like the NASDAQ did in late Dec/early Jan (where's the pullback?) - and we know what followed.
stockcharts.com/gallery?$WTIC
stockcharts.com/gallery?$COMPQ
To add to this, the CRB is in a downtrend, and if its in a downtrend the other complaint the market has, inflation (vis-a-vis interest rates), should be less of a threat than financial pundits make it out to be. Not to harp this one either - but it looks like the NASDAQ in mid-March.
stockcharts.com/gallery?%24crb
Having said all that, the weekly NASDAQ picture looks horrible and unless this decline morphs into some bear trap (real soon!) it could be one long summer.
DD as always,
DJF"
"Update in - got agree on the nasty day for the bulls, but gotta say, the daily concern over the price of oil is becoming a bore. The chart for oil futures looks sneakingly like the NASDAQ did in late Dec/early Jan (where's the pullback?) - and we know what followed.
stockcharts.com/gallery?$WTIC
stockcharts.com/gallery?$COMPQ
To add to this, the CRB is in a downtrend, and if its in a downtrend the other complaint the market has, inflation (vis-a-vis interest rates), should be less of a threat than financial pundits make it out to be. Not to harp this one either - but it looks like the NASDAQ in mid-March.
stockcharts.com/gallery?%24crb
Having said all that, the weekly NASDAQ picture looks horrible and unless this decline morphs into some bear trap (real soon!) it could be one long summer.
DD as always,
DJF"