a dumarses view of the djia

  1. 5,382 Posts.
    G'day
    Earlier in the year the US indexes bounced from oversold levels off a triple bottom and away they went despite what seemed pretty poor conditions. We've had a huge rally and last night it looked like the next leg up of the "new bull market" (as some say) was about to kick off after some good employment and earnings reports. It was short lived and now looks like the s&p and djia are in trouble. The peaks in obv coincide with short term peaks in the market, now obv is heading off the dial, failure to make a new high, bearish divergence in oscillators, not looking to good me thinks.
    anyone else got a view?
    cheers
    Rod
 
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