5 Mar 2012

Not much new today.  Charts showing us the same things we already know.  Weakening breadth, less leaders, indexes pegged near highs.

 Percent of stocks making new highs has continued its fall.  You can see in the past how this worked out for both new lows and new highs.

 Long term oscillators near previous highs but the longest term on here is still showing quite a decline from 2009.

Short term nearing oversold.  The longer term you get, the less oversold.

"American troops are on patrol today in Baghdad. American men and women tread in the footsteps of so many armies who have come before—the charioteers of Ramses II, Pharaoh of Egypt; the Persian troops of Cyrus the Great; the Macedonian Phalanx of Alexander the Great; the Roman Legionnaires of Julius Caesar; the crusaders of Richard the Lion heart; the troops of Napoleon; the camel corps of Lawrence of Arabia. All these armies have come, many of them with good intentions, determined to impose Greek or Roman or Christian or Democratic values upon the Middle East. All have failed. All have gone away, leaving barely a trace in the sand. The Middle East endures.

Professor J. Rufus Fears, Stanton Sharp Lecture, ―The Lessons of Ancient Rome for America Today, September, 2003.