Game Over on the Equities Rally?

July 2, 2009




Maybe, maybe not—this is all I can say since bulls have repeatedly demonstrated their “energizer bunny” quality. Maybe over the weekend investors will forget about the sting of today’s drop as no doubt the powers that be will roll-out their spokesmen to cheer everyone up.

This action is why over roughly the past two months our cash balances have been high. Once we got the weekly DeMark sequential 9 counts we were expecting a reaction. Sometimes we just move in a herky-jerky manner sideways while in other circumstances we get an immediate impact. If the trends are very strong then the DeMark 9 can be blown away and that’s the tricky part—how to get back in. But, never mind that for now, let’s look again.





Volume has been higher on down days and you can assuredly know that breadth both sucked and blowed today.








The longer-term Summation Index (not updated with today’s data) no doubt restarted its recently paused rollover.




























































































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