Trend intact. Punditry not.

Posted on Aug 22, 2013 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p20049953156&a=214966864

Our faithful friend and the usual suspect with trendlines and stairstops.  This is especially needed at present as talking heads, pundits and commentators desperately seeking attention rant on about S&P 5500 and blah blah blah.  Indicators and sunspots and full moons and failed Lone Ranger movies (sob -- a more bitter disappointment than the market) Kim Kardashian gone to bubble, a Giants collapse -- what does it all mean?  Well there are a couple of  "indicators" worth noting:  the NYSE advance decline line not confirming the market high and the Fosback High Low indicator flashing sell signs.

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