Wednesday, December 26, 2012

Wednesday Evening - SPX

SP-500 Daily Chart
Nothing very encouraging for a bull in that chart.  Here's a prediction: One more step to the 50 day and then a bounce that leads to a head first plunge through the 200 day.  Hope there's water in the pool.

Wednesday Afternoon - hIgh BeaMs illuminating

IBM Daily Chart (11:20AM)
IBM is one of the market telltale stocks and has been for decades.  It's telling you that if you're long you're wrong.  There's nothing bullish about this chart.  They do get a lot of business from government spending and it may be indicating what to expect for any business that is dependent on it.

Wednesday Morning - Adapting

Finally found the right adapter ...