And that made me think about the MTA.

MTA was started in the U.S. about 30 years ago by Ralph Acampora, John Brooks and John Greeley. It was back in 1981 that Notley introduced me to Acampora at one of the MTA functions in Canada.

Today, MTA is organized in many countries of the world, where they provide an invaluable service. I urge you to look into their services, and perhaps even attend one of their functions. It would be time and money well spent.

I haven't seen the Notley DVD for MTA, but knowing the man and the organization, it's not hard for me to recommend it sight unseen.

Some things in life, I never stop to question.

Having said that, I want everybody to know I believe strongly in the advice I continuously give on this website, which is that technical indicators are just that; they give "indications" of market price direction. This is as much art as science.

Technical analysis is only one facet of securities analysis. It is just as important for students of the market to understand the macro-economic factors as well as corporate fundamentals, which also bear on equity prices.

BTW, I just uploaded the International Equities section of the top banner. It's a lot of writing, but will get fleshed out, as all these sections will. Also, the GICS tables and stock lists will be uploaded today.

Fixed Income is the next section on today's agenda, and it's a big one, so again I'll be spending less time on the market.

The rebound in New York is not surprising, but I do think it to be temporary. The Dow (minus 55) and Nasdaq (minus 10) opened down today, but may close flat, which is what I expect tomorrow as well.

The concern for the bulls should be next week, after the bulk of the earnings data is in and the important U.S. economic data starts to come out for January. The yield spread is narrowing and flattening by the day, which is not a promising picture for the perma-bulls.

BCara@BillCara.com