The Market Perspective: NASD Hits RSI Ceiling

The Great Depression

Benjamin Roth: The Great Depression: A Diary
It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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March 25, 2012

NASD Hits RSI Ceiling

Sunday March 25, 2012

Peter Beno at Kavi Capital, another alert reader of TMP, sends us this observation.

The main chart is the NASD celebrating its 5000 dot.com glory in March 2000. Kavi Captial makes the point that the donwtrend line in the RSI indicator, bottom panel, has held this index in check since the 1996 peak in the RSI.

Enthusiasm for Apple and other social media stocks not to mention hot stocks like LULU, have propelled the NASD to a new high. Again we have an important rendezvous coming up. This represents 16 years of reliable resistance. Monthly charts move slowly. So it could take three or four months for things to gel here.

The Market Perspective

Market Commentary by Dennis Elam [email protected]

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