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Point & Go Figure: IGW, IGN, IAU


I'm a real nowhere man, slithering through my nowhere land


Market Overview:
The short-term conditions remain extended and in high-risk areas. The percent of stocks above their 50-day moving average indicators for both the NYSE and Nasdaq are positive but remain below the declining peaks that date back to the 2004 highs, indicative of deteriorating breadth and momentum.

Bottom line: Short-term indicators remain in high-risk territory. Long-term indicators, though still positive for the NYSE and NASDAQ Composite, are in high risk areas and showing the long-term trend of diminished participation still intact.

Charts of Interest:
iShares Goldman Sachs Semiconductor (IGW)
(Chart courtesy Dorsey Wright)

iShares Goldman Sachs Networking Index (IGN)
(Chart courtesy Dorsey Wright)

iShares COMEX Gold Trust (IAU)
(Chart coutesy

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No positions in stocks mentioned.

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