27 April 2009

If Bears Can't Generate Profits, They Sure Can Generate Charts

The market actually went down today, and for the most part, stayed down. I guess it took a pig flu pandemic scare, an earthquake, and a low-flying plane over Lower Manhattan to take down the market. Or not. Perhaps it was just a small Monday sell-off in an overheated market.

Here are some basic charts I'm taking into trading tomorrow:

Tim Knight offers up a bevy of additional annotated charts supporting his thesis that more weakness is coming. Here are two of them, the Russell 2000 and the S&P 500:

Mike Shedlock offers up even more technical indicator charts
supporting the bearish perspective. Again, here are just a couple plucked from his blog post:

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