The majority of this weekend’s thoughts are within the roadmap comparison of the Nasdaq and the DJIA from 1929-1938 I posted yesterday. Another view is of the NYSE Composite Index which is at the 1×2 Gann angle and the 50% price retrace of the 1982-2007 range. This charts shows prices are at a place where a significant bounce should occur. If the bounce does not happen then that tells us there is serious long term damage to the companies on the NYSE.
A look at commodity price deflation as it works through the US system is found in the chart below. These three indices measure prices in commodities and all show at least a 20% decline in prices year over year.
Charts courtesy of Stockcharts.com
Recap of recent posts:
- New Roadmap - Dow 1929 versus Nasdaq 2000
- Bears Getting Tired of Winning?
- Hey! Who Moved the Floor?
- Rally Day Nine - Another Test of the Low
- Gold Moving Down Below 700
- Time to Rock or Prices will Roll… Over
- Ten Year Bond Shows No Sign of Higher Yields
- Low Volume Inside Day
- McClellan Oscillators Turning Up
- WTIC at 75% Retrace and 1×1 Ascending Gann Angle
- Up Day on Lowest Volume in October
- GOOG Ready for A Turn?
Post Modified: December 30th, 2008 at 1:34 pm
Tags: Dow Jones Industrial Average · Inflation-Deflation · Market Outlook · Nasdaq Charts · New York Stock Exchange (NYSE) · RoadmapNo Comments
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