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Jeff Bailey : 11/7/2008 9:26:27 PM

The one thing I do like about StockCharts.com's "penalizing" a securities PnF chart for payment of dividends is this.

American Funds Washington Mutual A (AWSHX) Link

Jeff Bailey : 11/7/2008 9:20:27 PM

StockCharts.com's 25-pt (wide) Link

Jeff Bailey : 11/7/2008 9:17:46 PM

SPX 25-pt box Link

Probably a Berkshire day-trader's chart.

Note the volatility (distance between months and number of columns of X and O) from that of late 2002. Just before one of the greatest bull markets of our time unleashed itself.

Jeff Bailey : 11/7/2008 9:06:39 PM

Makes one "think twice" about the popular media always saying "there's no capital gains anymore" to be concerned about tax policy.

Hundreds of billions probably.

Jeff Bailey : 11/7/2008 9:01:13 PM

Berkshire Hathaway (BRK.A) $113,000.00 +0.71% ... Earnings Press Release Link

Note: $24.3 billion in unrealized capital gains.

Jeff Bailey : 11/7/2008 8:54:39 PM

California Regulators Shut Security Pacific Bank ... Pacific Western Assumes Deposits.

Security Pacific 19th failure of 2008.

Jeff Bailey : 11/7/2008 8:35:25 PM

Closing Internals found at this Link

Jeff Bailey : 11/7/2008 8:27:26 PM

YM settled 8,996

Jeff Bailey : 11/7/2008 8:15:44 PM

Closing U.S. Market Watch Link

DIA finished $90.13.

Jeff Bailey : 11/7/2008 4:07:38 PM

Ok, I think we've got our setup for next week, but we need WEAKNESS Monday, then Tuesday.

Keene Little : 11/7/2008 4:06:14 PM

Nice little rally into the close and this supports my view that we'll get the leg up to about SPX 941 before heading back down. At least that's the setup for Monday morning. SPX 10-min chart: Link . And how it fits into the larger pattern on the 120-min chart: Link . And how that fits into the larger pattern shown on the daily chart: Link

Jeff Bailey : 11/7/2008 4:06:06 PM

Daily 61.8% pivot retracement.

Jeff Bailey : 11/7/2008 4:05:35 PM

YM 8,943

Jeff Bailey : 11/7/2008 4:04:06 PM

Never did get back to GREEN #1 though. :(

Jeff Bailey : 11/7/2008 4:03:36 PM

C $11.92 at the close.

Jeff Bailey : 11/7/2008 4:02:02 PM

YM 8,918 ... threatens a close above its WKLY Pivot.

Jeff Bailey : 11/7/2008 4:00:23 PM

YM 8900

Jeff Bailey : 11/7/2008 3:59:51 PM

C $11.76

Jeff Bailey : 11/7/2008 3:45:57 PM

GM $4.28 -10.83% ...

Jeff Bailey : 11/7/2008 3:45:40 PM

YM/DIA breadth +25 : -5

Jeff Bailey : 11/7/2008 3:44:51 PM

XOM $73.04
CVX $72.58
BA $46.15

Jeff Bailey : 11/7/2008 3:43:39 PM

C $11.64

Jeff Bailey : 11/7/2008 3:42:30 PM

YM 8,816 ... daily Pivot.

Keene Little : 11/7/2008 3:20:55 PM

While it's certainly possible we'll see an immediate resumption of the decline after today's consolidation, it would look better with a little more sideways consolidation or higher bounce (this is the subjective part of EW analysis, especially inside corrective patterns). The updated SPX 10-min chart shows, in pink, the possibility for another leg up to match this morning's (to create two equal legs up from yesterday's low). That presently gives us an upside target of 942.36 (subject to change if this afternoon's pullback drops further). Link

Jeff Bailey : 11/7/2008 3:19:26 PM

Also thought we might see a "change" to that pattern with a C long trade.

Jeff Bailey : 11/7/2008 3:18:18 PM

YM 8,821 ... DAILY Pivot. It too saw about 10-minutes of notable selling.

Doesn't seem as if President-Elect comments any more helpful than other government officials of late.

Jeff Bailey : 11/7/2008 3:13:35 PM

NYSE had a better a/d line all day too.

Jeff Bailey : 11/7/2008 3:13:20 PM

NASDAQ 1,570/1,255

Jeff Bailey : 11/7/2008 3:13:09 PM

NYSE a/d 1,813/1,168

Jeff Bailey : 11/7/2008 3:12:33 PM

Yes ... I did like the possibility of a "bear trap" pattern in C as one part of where we might see some type of better short covering for today. Had about 5 alternatives, picked the "best" one I thought I could find.

Keene Little : 11/7/2008 3:13:32 PM

Today's price action looks like a correction of the decline from Tuesday but I don't think it's over yet. A sharp pullback now changes the kind of a-b-c bounce pattern and a drop down to about SPX 903 could set up a strong rally leg on Monday (942 target). We've had lots of volatility and I suspect it will still be with us for a while.

Jeff Bailey : 11/7/2008 3:09:33 PM

All three actually

Jeff Bailey : 11/7/2008 3:09:23 PM

INTC $14.36 +3.53% ...

Jeff Bailey : 11/7/2008 3:09:01 PM

NVDA $8.52 +11.81% ...

Jeff Bailey : 11/7/2008 3:08:38 PM

CSCO $17.37 +2.53% ... softening up last 10minutes

Jeff Bailey : 11/7/2008 3:05:55 PM

Well ... BKX was a bit "sloppy" this morning, either side of WKLY S1. Figured if it got back above into the 03:00-03:15 we'd see some short-covering to the close.

C had a decent setup with its WKLY S1 up at $12.28, with RED #2 never having seen trade.

C $11.78 +1.38% ...

Jeff Bailey : 11/7/2008 3:03:18 PM

BKX 52.23 -1.84% ... session low.

Jeff Bailey : 11/7/2008 3:01:46 PM

Day trade stop alert! ... for Citigroup (C) $11.69

Jeff Bailey : 11/7/2008 2:58:39 PM

BKX 52.69 -0.97% ... after test of WS1 from underneath.

Keene Little : 11/7/2008 2:58:39 PM

Oops, the bulls fumbled the ball.

Jeff Bailey : 11/7/2008 2:57:40 PM

Day trade long raise stop alert! ... for Citigroup (C) $11.83 +2.69% ... to 11.69.

Jeff Bailey : 11/7/2008 2:53:18 PM

WFC $28.23 -1.87% .. GREEN #3.

Keene Little : 11/7/2008 2:52:32 PM

Here comes the next leg up. The upside projection is now SPX 951.50 (projecting from the end of the sideways consolidation just before 2:30 PM).

Jeff Bailey : 11/7/2008 2:42:24 PM

Very quiet today, or so it looks.

Jeff Bailey : 11/7/2008 2:35:04 PM

Clicking through some intra-day time intervals this morning to lunch, and not much revealed. "Stepping out" to 15-minute intervals to try and pick up on any type of "possible" comeback from last two-days losses.

Jeff Bailey : 11/7/2008 2:31:05 PM

02:00 Internals at this Link

Keene Little : 11/7/2008 2:24:35 PM

If the sideways consolidation in SPX is a b-wave (following the wave A bounce to this morning's high) then we should start a rally leg right from here. The next leg up, wave C, would achieve equality with wave A at 950.34, just shy of the 50% retracement at 953.62. It needs to get up and go now though.

Jeff Bailey : 11/7/2008 2:07:48 PM

Citigroup trade ... stop goes 11.57. Target is $12.25.

Jeff Bailey : 11/7/2008 2:06:01 PM

Day trade long alert! ... for 1/2 position in shares of Citigroup (C) at the offer of $11.76

Jeff Bailey : 11/7/2008 1:58:39 PM

"bad tick" in the si08z to $20.00.

Keene Little : 11/7/2008 1:44:46 PM

Even bonds have gone into a tight holding pattern since this morning's gyrations around the jobs number. It's looking like a summer Friday at this point. I think market participants are just tired and are looking forward to this weekend and just getting away from the market.

Jeff Bailey : 11/7/2008 1:12:46 PM

Citigroup (C) $11.70 +1.56% ... Dorsey's PnF chart (will match your QCharts as they don't adjust prices for dividends either) Link

The "reason" C doesn't show as "taking away" from the BPOEX is that yesterday's trade at $11.50 was a 2nd consecutive sell signal. The bullish % only measure the first of a "buy" or a "sell."


Yesterday's "triple bottom sell signal" is a POTENTIAL "bear trap" as BPSPX and BPBANK are in "bull phase."

Keene Little : 11/7/2008 1:04:06 PM

The RUT is looking weaker than the others today. It's up less than others and its bounce pattern looks more like a sideways correction. This one is giving me the impression we might see the market consolidate sideways today (rather than a bigger bounce) and then head lower again next week. So while I like the upside today for a day-trade long play I would keep a tight leash on it. If it works, great. If you get stopped out near even, great.

Jane Fox : 11/7/2008 12:48:20 PM

Some economists are predicting the unemployment rate will hit a high of 8.5% or higher before we see it easing. They are also predicting that easing may not happen until 2010. They see the FED lowering rates to 0.50% by December because domestic demand and production are dropping sharply.

Keene Little : 11/7/2008 12:47:12 PM

We've got a clean 3-wave pullback to the broken downtrend line and now it's heading back up. The upside target near SPX 943 remains a good one for now.

Jeff Bailey : 11/7/2008 12:41:21 PM

Again ... StockCharts.com's PnF chart of C is incorrect due to dividend payment.

Jeff Bailey : 11/7/2008 12:39:08 PM

Those that may have a position in Citigroup (C) $11.50 -0.17% ... recognize yesterday's trade and PnF pattern. Whatch that sector bullish % BPBANK

Jeff Bailey : 11/7/2008 12:36:05 PM

BA lackluster, below trend. BPAERO . #10 weighted INDU/DIA/YM

WKLY S1 $45.43 kept things in check yesterday. Daily Pivot does so today.

Jeff Bailey : 11/7/2008 12:32:44 PM

XOM's WKLY Pivot $72.54

CVX's $70.51

Jeff Bailey : 11/7/2008 12:31:21 PM

You DIA traders will note something on 10/28 as it relates to your trade blotter with XOM and CVX. (wink/hint)

Jeff Bailey : 11/7/2008 12:29:43 PM

XOM and CVX come back up into their "sell signals" and both above trend . Both BPOIL. #2 and #3 heavyweight in INDU/DIA/YM

Jeff Bailey : 11/7/2008 12:26:15 PM

XOM $72.17
CVX $72.06
BA $45.91

See 11:59:23 PM post from last night (below)

Jeff Bailey : 11/7/2008 12:24:33 PM

NYSE a/d 2,000/890

Jeff Bailey : 11/7/2008 12:23:45 PM

YM 8,820 ... set to test DAILY Pivot. WKLY Pivot kept things in check.

Jeff Bailey : 11/7/2008 12:18:38 PM

12:00 Internals found at this Link

Keene Little : 11/7/2008 12:17:32 PM

SPX has now broken its downtrend line from Tuesday so watch for a pullback to find support there, currently near 920.

Jeff Bailey : 11/7/2008 12:11:48 PM

NYSE NH/NL 4:113


Jeff Bailey : 11/7/2008 12:03:51 PM

SPX 2.5 box chart Link

Keene Little : 11/7/2008 12:02:09 PM

Figuring out corrective wave counts is the hardest part of EW analysis because the count can morph into many different corrective counts. Many who don't know how to use EW will often accuse followers of just making it up as they go along. I can understand their frustration. Impulsive counts are easy--how hard is it to count one type of 1-2-3-4-5 move? But corrective counts can turn into any one of 11 different types of patterns.

EW analsysis also deals with fractal patterns so an a-b-c bounce could simply make up a larger degree a-wave of what will become a larger 3-wave bounce. And that larger 3-wave bounce could simply be a larger degree a-wave as part of a larger a-b-c bounce, ad infinitum. With that in mind, this SPX 10-min chart shows what I'm watching for what could play out today and into Monday: Link

This morning's 3-wave bounce is labeled wave-a and this morning's pullback is labeled wave-b. This interpretation calls for another sharp leg up in wave-c (might not get it if we chop sideways instead). In dark red I've labeled this larger 3-wave move up (to the 941-944 area) as all of wave-2 and that will be followed by a resumption of the decline.

Or, instead of wave-2 it might be a larger degree a-wave (pink wave A) and that would call for a larger b-wave pullback and then another stronger c-wave up on Monday in order to complete the larger 3-wave bounce for wave-2.

Corrections are the most difficult to handle in EW analysis and while it isn't able to tell us where and when a correction will definitely end, it does give us recognizable patterns and price levels to watch for potential turns. And that provides potential trade setups. I trade the turns based on these setups and when price proves to me that it's not ready to turn I simply exit for a small gain or loss and wait for the next setup.

Jeff Bailey : 11/7/2008 11:55:22 AM

SMH $18.65 +3.89% ... sitting on WKLY S1. Daily Pivot kept things in check.

Jeff Bailey : 11/7/2008 11:54:00 AM

slap a 5-mrt on NVDA $8.71 +14.30% ...

Jeff Bailey : 11/7/2008 11:44:58 AM

Take the "for week ended" 09/26/08 4-week Average and subtract it from the "for week ended" 09/19/08 4-week average, then divide sum by the 09/19/08 4-week.

Jeff Bailey : 11/7/2008 11:41:43 AM

Not month-to-month exact, but I was ballparking -3.05%

Jeff Bailey : 11/7/2008 11:38:03 AM

MBA Weekly Application Survey from Wednesday's Wrap Link

Jeff Bailey : 11/7/2008 11:35:49 AM

VIX.X 59.49 -6.57%

Jeff Bailey : 11/7/2008 11:35:03 AM

PHM $9.98 -7.68% ... Thinking NAKED put

Jeff Bailey : 11/7/2008 11:34:13 AM

DJ- Sep Pending Home Sales +1.6% from Sep 2007

Jeff Bailey : 11/7/2008 11:33:46 AM

DJ- Pending Homes Sales Index -4.6% In Sep

Jeff Bailey : 11/7/2008 11:32:20 AM

WFC priced $11 billion at $27

Jeff Bailey : 11/7/2008 11:31:33 AM

WFC $27.25 -5.28% ... back to GREEN/RED #0

Jeff Bailey : 11/7/2008 11:30:39 AM

I'm showing $4.45 x $5.80 as current indication

Keene Little : 11/7/2008 11:33:20 AM

The DOW and SPX have overlapped their opening highs and so we're left with a 3-wave bounce off yesterday's low. That's confirming we're only going to get a bounce and not the start of a new rally leg. That's confirming the probability not the certainty--I've seen plenty of these moves grow into larger impulsive rallies and that's where the intraday EW counts are not always accurate, especially in 1st waves.

The downtrend line from Tuesday, at SPX 930, held so now we'll see if price merely consolidates sideways beneath the trend line before heading lower again or pops above it in a larger corrective bounce. If this morning's 3-wave bounce is wave A and we're now getting a b-wave pullback we could get a strong afternoon rally in wave C (perhaps up to SPX 940-950 area).

Jeff Bailey : 11/7/2008 11:29:30 AM

General Motors (GM) $4.83 +0.62% ... halted. Earnings Press Release Link

Jeff Bailey : 11/7/2008 11:24:29 AM

The cake's been mixed, let's not get baked.

Jeff Bailey : 11/7/2008 11:24:15 AM

Now, "Obama and bad jobs" and the HMO's still hanging out.

Jeff Bailey : 11/7/2008 11:23:40 AM

CI, AET, HUM, UNH daily intervals Link

I was monitoring Cigna this morning, looking for the break lower after yesterday's close below the 10/30/08 close (not cursor blocks here on all four).

HUM probably more of a "see this" as it relates to where the stock trades right now, than its 10/30/08 low. This needs some investigation, but I'm thinking November option open interest may have something to do with it. Remember that COVERED put we sold at the $25.00 strike? Where HUM almost stopped dead on the 31st? Not necessarly surprised based on OI before we SOLD that put.

Jeff Bailey : 11/7/2008 11:14:47 AM

ZION $37.87 +1.25% ...

Jeff Bailey : 11/7/2008 11:14:27 AM

NCC $2.46 -1.20% ... back under that $2.50 strike.

Jeff Bailey : 11/7/2008 11:13:23 AM

PNC $65.41 -3.43% ... slips below correlative 200-day and 150-day SMAs.

Keene Little : 11/7/2008 11:09:17 AM

The bounce off yesterday's low is a 3-wave move so far and now we're getting a little pullback. If the pullback stays above the initial high this morning (SPX 917 at the open) and then heads higher again it will give us a 5-wave advance off yesterday's low.

That kind of impulsive 5-wave move would be followed by a pullback to correct the bounce but it would tell us we'll get another leg up after pulling back (for a larger a-b-c bounce probably). So I'm waiting now to see what the current pullback does.

Jeff Bailey : 11/7/2008 11:07:47 AM

European central bankers very talkative this morning. Most of talk is better oversight of their banking system. France's Sarkozy believes the role of the IMF, World Bank should be redefined.

Jeff Bailey : 11/7/2008 10:59:35 AM

RVX.X 62.08 -6.64% ... sits on DAILY S1. WKLY Pivot untested this week at 70.74.

Jeff Bailey : 11/7/2008 10:58:34 AM

RUT.X 505.76 +2.00% ... only major to make it above its WKLY Pivot. DAILY R1 keeps things in check.

Keene Little : 11/7/2008 10:59:40 AM

If we view GOOG as a good proxy for the tech stocks it's currently painting a bearish picture for next week. First the bigger picture with the daily chart. If it makes it all the way down to the bottom of the parallel down-channel that's on the chart we could see GOOG trading at 200 sooner rather than later. That seems a bit steep but when you see the steepening downtrend lines it's telling us the selling is accelerating so it's certainly possible. Daily chart: Link

Barely visible is a sideways triangle pattern that I drew on the chart. That's a continuation pattern and at a minimum has a downside projection of 268. Moving in closer with a 120-min chart shows the triangle pattern and its wave count. Today's bounce could have it testing the bottom of the triangle, currently near 350 (which would also be a 50% retracement of this week's decline), and that would be a great short play setup. 120-min chart: Link

Jeff Bailey : 11/7/2008 10:55:03 AM

Asian Markets: Link finished mixed to higher $HSI jump 3.8% to 14,243, rather surprising considering yesterday's declines here in the states. $NIKK fell 3.55% to 8,583, while $SSEC gained 1.75% to 1,747

Jeff Bailey : 11/7/2008 10:46:10 AM

My QCharts 5.1 acting funky this morning with various data fees and price quotations. Not getting a dia feed. HUM price quote incorrect, yet getting what looks like a feed.

Jane Fox : 11/7/2008 10:43:26 AM

Markets have broken through overnight highs (TF is on a delay but I suspect it has as well). Link

Jeff Bailey : 11/7/2008 10:43:14 AM

GG $22.47 +7.12% ... it went GEEN #3 too.

Jeff Bailey : 11/7/2008 10:42:35 AM

YM Green #3

Jeff Bailey : 11/7/2008 10:41:11 AM

YM 8,873 near best level. Just shy of WKLY Pivot.

Jeff Bailey : 11/7/2008 10:40:37 AM

NYSE a/d 2,212:534

TRIN 1.12

Jane Fox : 11/7/2008 10:29:37 AM

Internals are very strong today. Link

Jane Fox : 11/7/2008 10:27:40 AM

Treasury Department has issued its first report to Congress on the progress of the $700 billion bailout plan. $25Billion has been used to buy shares in 9 banks and 30 more banks have been approved for "funding" however, the report is not revealing how the Government is making a decision to approve a bank or not. It also said companies are still not partaking in longer term lending for it may be just too early to see an easing of this kind of lending or the banks are just too scared to do it.

We are starting to see the stronger banks buy up the weaker banks, which economists pretty much agree is one of the best scenarios.

The bailout plan is still not buying the toxic assets because that has not been worked out yet.

Keene Little : 11/7/2008 10:26:37 AM

Next potential resistance level if SPX can stay above 924 is its downtrend line from Tuesday, currently at 930.

Jeff Bailey : 11/7/2008 10:25:30 AM

Friday's Global Economic Calendar Link

Jeff Bailey : 11/7/2008 10:19:11 AM

10:00 Internals found at this Link

Keene Little : 11/7/2008 10:16:50 AM

The post-FOMC low on Wednesday, October 29th could also be resistance (922). Anyone who got long after that dip, and then held on in the decline, could use a rally up to this level as an opportunity to get out.

Keene Little : 11/7/2008 10:10:22 AM

From yesterday's low we're now getting a 2nd leg up in the bounce. First level to watch for potential resistance (in case we're going to just chop sideways instead of getting a higher bounce) is where the bounce off yesterday's low will have two equal legs up--SPX 924.31.

Jane Fox : 11/7/2008 9:54:30 AM

I am reading about how the Bush administration is cooperating with the Obama and his new team to begin a smooth and effective transition and to find a resolve to our financial crisis. Reminds me of how party lines melted after 9/11.

Jane Fox : 11/7/2008 9:43:35 AM

Obama is scheduled to meet on Friday with economic advisers including Warren Buffett, former Federal Reserve Vice Chairman Roger Ferguson, former Treasury Secretary Robert Rubin and former Securities and Exchange Commission Chairman William Donaldson, among others. Obama plans to speak to the media after the meeting.

Jane Fox : 11/7/2008 9:42:23 AM

I like to take a look at the AD line first thing in the morning to get a pulse on the market. Sort of like a doctor walking into a patient's room and taking his/her pulse before investigating anything further. AD line is a bullish +1352.

Keene Little : 11/7/2008 9:42:22 AM

Bonds are selling off and equities are rising so we have some rotation going on this morning. I liked the setup for a bounce today and even though the jobs number was worse than expected we can see it's not going to keep equities down. I think a reasonable expectation for a bounce is a 38%-50% retracement of this week's decline. That gives us an upside target zone of SPX 941-954. But if we get a small choppy consolidation instead then it would make it look like we haven't finished the leg down from Tuesday yet.

Jane Fox : 11/7/2008 9:38:06 AM

Previous day lows were support for the futures markets overnight, which was very surprising considering the bad news out at 8:30. I think we can say the unemployment news was already factored into the markets and was probably why the markets fell so hard the last few days. Link

Jane Fox : 11/7/2008 9:29:12 AM

In October the US lost 240,000 jobs and the US unemployment rate jumped to 6.5% from its previous 6.1%, a new 14-year high, surpassing the high seen in the last 2001 recession. Economists had forecast a 200,000 drop so the extra 40,000 jobs lost came as a surprise however, the biggest surprise was the Bureau of Labor revised September's losses up to 284,000 and even Augusts' number up to 127,000 which was an increase of 179,000 more jobs lost than previously announced. For the three months, August, September and October our payrolls have seen a drop of over 650,000 jobs and for the year to date the number is a staggering 1.18 million

The losses were widespread across industries with the brightest spot in health care, which actually added jobs in October and, of course, the Government, which added 23,000 jobs. The industry hit the hardest was Goods- producing with a loss of 132,000.

Total hours worked fell to 0.30% in October from 1.7% in the past year but the average workweek remained steady at 33.60 hours.

The Non-Farm Employment Report released today at 8:30 measures the change in the number of employed people during the previous month, excluding farm workers.

Keene Little : 11/7/2008 9:25:27 AM

There was some gyration around the jobs report at 8:30 AM (bad number) in both bonds and stocks but bonds are essentially flat and equity futures look to open positive.

Jeff Bailey : 11/7/2008 12:20:25 AM

$SPX Link

$OEX Link

Keene Little : 11/7/2008 12:04:33 AM

Friday's pivot table: Link

The selling over the past two days has been strong with nary a bounce. That makes it harder to see what the wave count might be so I feel a bit like I'm flying in the clouds with no instruments. But with SPX finding support at its 62% retracement of the rally from October 28th and bullish divergences showing up on the short term charts I thought it could be a good place to launch a bounce on Friday. Futures are up tonight so maybe...

There's a lot of similarity between the charts right now and that's good. The message from them is not entirely clear yet but at least they're all in synch. As shown on the SPX 60-min chart, I think we'll see a bounce and then a turn back down (dark red). The bounce could continue but I think that's the lower probability move. Just don't be short if it gets back above Tuesday's high. Link

If we do get the 2nd leg down as depicted it will then be time to determine whether we'll stay trapped in the larger sideways triangle pattern (pink) or continue down to the October 2002 low (768). These two options are also shown on the daily chart: Link . Both of those options point lower and to about the same level; it's just a matter of how quickly it gets there.

Jeff Bailey : 11/6/2008 11:59:23 PM

OEX reversing lower sell signals from 11/06/08.

XOM at $72 Link
WFC at $28 Link
TGT at $37 Link
NSC at $56 Link (StockCharts' PnF chart incorrect due to 11/05/08 dividend payment, Dorsey's is correct and doesn't discount a stock's price for payment of dividends).
ETR at $76
CVX at $70
COP at $50
BNI at $85
BHI at $32
BA at $48
SLE at $9.50

Jeff Bailey : 11/6/2008 11:12:37 PM

BPALL, BPNYSE, BPOTC, BPSPX, BPOEX, BPNDX, BPDIA table that I keep at this Link

BPALL (read) - Broadest bullish % gave "buy" signal on 10/31 at 20.00%. Has risen to 35.36%. Would currently take a reversing lower measure of 28.00 to fall back to "bull correction" status. RISK to a sell signal is 8.00%

BPOTC (read) - Having given a "sell" signal at 22.00% on 10/02/08, fell to 4.73%. Reversed back up to "bull alert" status at 12.00% on 10/14/08. Has risen to 26.46% and would currently take a measure of 20.00% to reverse back lower to "bear confirmed" status. RISK to a "buy" signal and "bull confirmed" status is 38.00%

Jeff Bailey : 11/6/2008 10:44:16 PM

Dorsey/Wright's very narrow BPDJIA reverses back down to "bull correction" status at 43.33% (44% chart).

StockCharts.com's $BPINDU Link

Jeff Bailey : 11/6/2008 10:40:09 PM

Dorsey/Wright's BPOEX reverses back down to "bull correction" status at 47% (48% chart).

StockCharts.com's $BPOEX Link

Jeff Bailey : 11/6/2008 10:34:35 PM

Dorsey/Wright's BPSPX reverses back down to "bull correction" status at 43.98% (44.00% chart).

StockCharts.com's $BPSPX also reverses back lower Link

Jeff Bailey : 11/6/2008 10:27:47 PM

Closing U.S. Market Watch Link

Jeff Bailey : 11/6/2008 10:03:04 PM

Closing Internals at this Link

OI Technical Staff : 11/6/2008 9:59:59 PM

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