The Market Perspective: New Year's Day, A Turn in Progress

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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Bought And Paid For

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How Wall Street Backed the Administration and Got What It Paid For

« Put Call Ratio Chart Supports Other Indicators Suggesting a Low is in Place | Main | Volatility Continues »

January 01, 2019

New Year's Day, A Turn in Progress

Jan 1 2019

I remarked on the widespread level of fear among market writers last week.

Here is our most reliable market indicator.

THe MAs are begining to turn up which is positive as is MACD at bottom and RSI at top.

Bullish Percent 200 Day MA

A drop from 70% to near 10 percent in three months is a real correction. Again the MAs seem to be bottoming and MACD as well.

NASD New Lows Has Returned to its 'normal ' reading.

It is hard to imagine a new torrent of selling with these charts in this position. Readers are again referred to McClellan's 10-1 article posted last Friday.

Weekly NYSE Bullish Percent

This view is one we have not heard on CNBC or Fox Business. The rally peaked early in 2018. the rest of the year represented a orrectionwhich collapsed in the fourth quarter. That done we may have a buying opportunity at hand.

Posted at 11:18 AM in Socionomics, Stock Market | Permalink

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The Market Perspective

Market Commentary by Dennis Elam dennislelam@gmail.com

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