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Ch. . . Ch. . . Changes Redux


This is getting curiouser and curiouser!


With more market damage yesterday, here are the updated charts of the SPY, QQQQ, NYSE Composite and VXO. My conclusions have not changed much, except that Hoofy's critical situation has gotten even more critical.

Yet, strictly technically, it is not, IMHO, beyond the point of no return. Today and tomorrow shape up to be very meaningful. If the Minx leaves the current support areas behind like it means it, Hoofy's posture will change from one where the climb has gotten steeper, to a "Wile E.-Coyote-feeling-his-way-on-a-cloud-before-face-planting-into-the-canyon" impersonation.

The way I see it, our bovine should hope for a hard down plunge this morning, followed by an even harder reversal into the close. Boo on the other hand will be rooting for a.) an inside day; or b.) a weak bounce today, tomorrow, and Monday.

Looking at individual names, here are a few charts showing notable divergences:

Bausch & Lomb (BOL); Global Signal (GSL), and fave Akamai (AKAM).

Good luck today!

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Positions in QQQQ, SPX/SPY, AKAM
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