What are the charts saying ???

[fuzzduzz]

All the major indexes are at or near their 50ma and looking oversold. The problem is the markets can stay oversold for awhile. I think this week will be critical for the markets either to bounce and continue the upward move that started in october OR... break through support at 50ma on heavy volume (a lot of nice gains since october investors have been waiting to sell and take some profits for tax purposes) ala last year. I don't have a clue what will happen so I'll wait for the charts to tell me then I'll make a move.

 

[tsptalk]

A little bit of technical damage done to the indices last week, but that was during a vacation filled, light volume week. Not sure how much to read into that.