thursday trading, page-20

"As flies to wanton boys, are we to the gods;
They kill us for their sport."

In making the following statements, I'm only too well aware of the above quote from King Lear 4.1.36

This looks like a top to me.

1. XJO at resistance of long-term up-trend line.
2. RSI at its highest level in the past 200 days trading.
3. CCI yesterday reached an extreme level above 200 - the last time it did that was in early November - and the market retraced for most of November.
4. Volume yesterday was the highest in nearly two months.
5. Today's volume - on an indecisive "inside" day - was above the 50-Day Average.

All of that says to me, we're at a top.

If the market is up from here in one week's time - then the gods are truly playing with me - in the most sadistic manner. And I am not into sado-masochist. :)

Good luck
Red