spott's - fade the false break - tuesday, page-6

Good point Poul. The equities markets have been ignoring good news (there is so much bad news around that the good get's lost in the mix).

Here is a 1 hour chart of the DOW showing it trading in a downtrend channel. What is worth paying attention to is that the TRIN and put/call ratios are telling us this is all normal, no extreme readings on either of them which would signal a bottom.



What could ruin the party for the bears is that short interest here on XJO is nearing 50% of some of our banks.

Short interest ASX (data from Friday trading) -

http://www.asx.com.au/data/shortsell.txt