Aug 19, 2010

Markets dropped on moderate volume on higher jobless claims data. So much for the idea of the stock market being a leading indicator when it has to wait for a coincident indicator to be released before it reacts. A direct consequence of computers running 80% of all trading.

Short-term: 2 yellow, 2 red – tending yellow/red
Intermediate-term: 3 yellow, 1 red – tending yellow
Stock targets: 60% swimming, 23% neutral, 18% sinking

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