I lost all my comments on my MEGA CHART I am not happy about that, but it gave me a chance to change it and make Mini-Mega.
MEGA CHART
Not much more to say, NYMO did move up as predicted and is now in the middle of a range. $SPXA50 still moving up so new stocks are breaking above their 50MA. I also added $SPXA200. That shows even more stocks getting above the 200 which is pretty bullish, if stocks keep getting above these MA's there is strength.
Here is MEGA B(Mini-Mega)
This chart is focused on the real breadth of the market. It has $NYDEC and $NYDVN at the top and $NYUPV and $NYAD at the bottom. Look at the current trends in these, Advancers keep outpace decliners and the trend keeps moving up for this. This is showing some strength in the market.
Note that today is the last day of the week. A close above 839 will give us 5 weeks in a row up! Also remember Friday the market is closed, so any position you are holding overnight will have to endure a 3 day weekend.
Depending on how the market moves, I may enter a small long position. I think we should see 850 soon.
Update: So WFC is making tons of money now. So the market is up almost 2% pre-market. I will will be watching the Nov trendline, if this is broken I will go long with capital to add at 800 and 810. The Mega chart speaks for it's self, there is still room to the upside. I see 869 still.
Update2: Actually not touching the market right here. Just going to watch this could be the 5th week up!.
