March 3, 2008 - Notice the NYSE
is forming a bullishly sloping lower trading range limit on a
near-term basis. See green line on the below chart. It will be interesting to see how its interaction reacts
tomorrow.
March 3, 2008 - The NASDAQ is forming a similarly configured lower
trading range limit line, which is noted on the green line below. Notice that is bearishly sloped, but
interestingly also nestled right on the line. It will be interesting to
see how these indices behave tomorrow. If bearish, then the bear gains
momentum. If bullish, the bear will be dealt a tremendous blow by the
bull.
Contrarian ETF #31-QID-Bear
Market continues with a solidly bullish configuration, which does not
bode well for those desiring overall stock market bullishness.