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August 23, 2005
Three-year trend line, Tues., August 23, 2005, 11:19 AM
Technical traders will be closely watching the three-year trend line, which everybody knows is bullish. Presently there are about 80 Dow points to spare before there is a possible breakdown and reversal of the long-term trend. That's not a lot.
Worse, as each week goes by, the rising trend line presents an easier target to hit. So, in Wall Street vernacular, it's time for the rubber to hit the road. Or else.
Posted by Posted by Bill Cara on August 23, 2005 11:19:45 AM | Category: Cara Today in the Market , Trend & Cycle Phases
Bill -
Also of note that confirms your hypothesis on a short term basis are 1) the VIX which has risen off a July 22, 2005 low of 9.88 and now stands at 13.80 and 2) the put/call ratio which has been rising since July 22, 2005 as well. Check this website which graphically illustrates the 21 day moving average. http://www.vtoreport.com/sentiment/putcall.htm
RlzGain
Posted by: RlzGain at August 23, 2005 11:38 AM [link]