All these indices are a permanent part of the resources available on the blog, so please visit and click through these links for a look at the guts of the market (internals).
The TED Spread looks like it put in a double bottom in September. God do I hate these Bloomberg charts -- it is almost insulting on how they present data. However, if you have a spare $40,000 per year or whatever it is, you can get the real Bloomberg, which is basically unmatched in all the financial industries. I used to have access to it.
The S&P Bullish Percent Index is heading upward again, bouncing off the 2007 highest level achieved. One could Place a rising wedge pattern on this.
The McClellan NYSE had a small 4% change on Friday. This portends a large move, in the next day or two or maybe three, however, the direction of the move is not known from this indicator.
If futures open down, I will sell on weakness, Sunday afternoon.
You may have noticed on my Chart of Charts that there is a huge amount of stocks that are forming patterns that could break out. This adds to the liklihood of a big move as predicted by the McClellans small move Friday.
I ran across this other blog that just had an amazing assortment of links to various economic data
Check it out
http://ibankcoin.com/chart_addict/Econoday posts that Consumer credit is contracting at a continuing steep pace, while the consumer debt to income ratio has gone from a steady 23.5 to around 22.5. So even though incomes are going down, consumers are paying down their debt even faster. Remember the consumer is 70% of the economy, and financial gimmickry is 29% of economy, leaving the remaining 1% to the few people in this country who actually produce a product! hehe, OK thats an exxageration.
Per Investors Intelligence, percent bears has actually been going up of late. Hmmm....
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Insightful and Useful Comment!