rebacka's - groggy bull - thursday, page-35

There are possible bull flags on the DJIA and our XJO, too early to tell.

I'm still favouring the pullback scenario before any advancement.

Our market is weak, tepd and trepid, and typically gaps up at signs of overseas strength, only to spend the rest of the day wandering aimlessly before closing below the open.

Strong markets go up in green candles (a close above the open) ours does the opposite.

Some comparisons with the DJIA:

DJIA above sma's: 50(XJO above) 200,(XJO below) 500 (below).

DJIA reached 600 points above December 5 high
XJO 20 points below it.

DJIA has all but recovered losses since the April high last year.

XJO 700 points below April high.

Here's a graph of the two since the markets peaked in October 2007.