http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=DJTA&sid=1644
Actually, I don't believe technicals are particularly relevant in a massively manipulated market but old habits die hard.
My question is, until very recently the last bit of tech evidience that bears could point to was a strong dow theory non-confrimation- the transports didn't make new highs as the industrials did.
Not surprisingly, the trannies surged to a new high on the final capitulation. Now you have the trannies leading to the downside (don't think $220 crude is good for airlines et al).
Question is, where do you call a confimration non-confirmation?
