Market Talk / Mar. 8th - 14th

[Spaf]

Market Talk
Sunday Edition
March 08, 2009​

General Commentary:

Ugly, last week we saw the Dow drop below 7000, higher openings that couldn't hold, and a sucker rally that turned ugly the next day. In fundamentals the absense of a banking solution is a financial sore spot. The only good spot was the close on Friday which we call a Doji candlestick; meaning a lot of indecision. This is a little maybe that could lead to a bearish reversal. Just a little thing, nothing to bet the farm on.

They say Investors have lost confidence, lost trust. If I could see some of these financial crooks in orange jump suits with a hammer beating on rocks, well that would restore a little of my confidence; MHO.

A look at the chart(s)
The S&P500 [$SPX] Daily
Large Caps

Charts courtesy of www.StockCharts.com​

Pricing remains well under the 50dma.

The Bollinger Bands are shownig more volatility, couldn't get any wider.

The P-SAR is/has been giving a bearish signal.

Volume has been somewhat above average.

The S-STO is holding in over-sold levels. Buyers??

The MACD is still in a negative decline.

Well, that's it for the weekend!​

Be careful out there!​

 

[Warrenlm]

If I could see some of these financial crooks in orange jump suits with a hammer beating on rocks, well that would restore a little of my confidence;

I would much prefer to see some Islamic law penalties of hand and foot amputations and drug offense style confiscation of mansions in the Hamptons. If all the world's governments did the same, those with very clever, and intelligent, minds would never behave as these evil ones did. To see the participants on the CNBC House of Cards universally say they had no blame demonstrates that humans will rationalize any behavior because they want to compete. The poor man who shoots the 7-11 clerk says it was the clerk's fault. Unlike a law against shooting, we can't pass enough specific financial laws that will stop a recurrence of this Wall Street crime. Unless smart people are really scared. rant off.

 

[tsptalk]

The Nasdaq has first close below November low...