6 Feb 2013

5 Feb 2013

 The McClellan Summation index is back to near record highs.  TSV and RSI are also both pegged to the utmost bound.

 Short term bounced a little bit today.  The action looks about as wild as it has any time in the past three years.

Medium term is continuing its slight fall as well.

"The media I’ve had a lot to do with is lazy. We fed them and they ate it every day."
Michael Deaver

4 Feb 2013

Short term bent back downwards and made a lower low than recent.  Neither overbought nor oversold.

 Medium term continues its trend downwards off of extreme overbought conditions.

 Long term is at all time high overbought conditions.

 It looks like what I said last week about thinking most stocks have already had trend changes is appearing to come true so far.  The buying climaxes are rapidly rising.  This doesn't mean that we will immediately fall apart - it looks like usually this indicator subsides as there is another try at highs, and then we sell off further. However, things don't always happen the same way.

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final or total catastrophe of the currency system involved."
Ludwig von Mises