Hello Fellow ChartWatchers!
Back down below 10,000 we go. This is the fifth time in the past month that the Dow has dipped below that magic number. The past four times resulted in quick rallies back above 10K - will that happen again on Monday? Or have the bulls run out of ammunition? Our experts below debate that very point in this edition of our newsletter. Be sure to read their articles and then draw your own conclusions.
Here's a hint however:
The NYSE Bullish Percent is still up above 40 right which indicates that the Bulls are still hanging on. If it falls below 30, then things could get ugly fast just like in mid-2008. Next week should be very interesting.
CALLING ALL EAST COAST INVESTMENT CLUBS
In case you haven't heard, I've been traveling throughout the western part of the US giving presentations to various investment clubs about StockCharts and Technical Analysis. I started in Portland, then Phoenix, then Dallas and most recently Calgary. I'm off again next week to talk to the good folks at the Houston Investors Association.
So far, the feedback from my talks has been very positive. I'd love to keep the ball rolling and I need your help to make that happen. If you are a member of a large (50+ person) investment club that's based near the east coast of the US and your club is interested in having me come out and talk, please let me know via email - [email protected]
Right now, I'm looking to schedule trips out there starting in August. I hope to see you soon!
