ETF Range Projections 1.31.12
Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.
- Buddha
Current World Markets:
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have a great day !
Where Have All The Investors Gone?
Last week I watched and shared a video with members, an interview with Joe Granville. At the tender age of 89, Joe is still publishing! Many investors and traders had their introduction to technical analysis from Joe Granville, especially if you were around for the 1987 stock market crash.
Joe is extremely bearish and pointed to a chart similar to the one below as part of his reason.
The moving average (55 EMA) of volume is making new lows for the decade. Notice (horizontal blue line) how we broke below the lows of 2002/2003, bounced back to that line, and are now making a new lows. The trend line is decidedly down as well. You can view the Bloomberg video interview with Joe Granville: HERE!