A Daily Chart with Data and my Comments will be Posted here by 8:30 AM Eastern Time or Noon on Weekend the following morning, baring technical problems or prior notice. My Data Source is Markets Diary: Closing Snapshot - Markets Data Center - WSJ.com
Chart and Data Below (Click on Image for bigger chart)
Wednesday Morning 8:00 AM Jan 27 2010 Comment for Tuesday Jan 26 Close: T Theory Forecast remains bullish for the longer term but the correction needs to stabilize around mid channel (S&P 1105). In the days ahead I will be concentrating on the Volume Oscillator and AD Line analysis to refine the end of the correction period, etc.
Tuesday's trading was again disappointing in that it could not hold the mid day rally that would have lifted the S&P up to the mid channel support level. However the blue Volume Oscillator has pulled back with the potential to make a "W" type of bottom pattern as I have noted in todays chart.
A new rising bottoms pattern in the oscillator in an oversold condition, if confirmed by todays close, would be very positive going forward. Terry
See Recent Posts at bottom of page. Check my Sunday Update Terry Laundry's T Theory Observations for this coming Sunday afternoon for bigger picture details and further comments.
Comments