NYSE....'walks like a duck, quacks like a......

NYSE: Daily Close @ 03/27/2012

A correction still 'in play'?
Certainly from a historical perspective, it's doing what previous corrections have done, even though we're back testing the highs.
7900 possible?

A correction of sorts......even for the Nasdaq

NASDAQ Composite: McClellan Oscillator @ Close 03/22/12

More of a 'stalling' than a correction, Apple still having a large effect upon not only the indices (S&P500/ NDX100), but also the internal readings of the market.

NYSE: New Highs....and yet.......

NYSE Summation Index: Close 03/16/2012

Curiouser & curiouser........the Summation Index is in 'down' mode, with the Oscillator below Zero....and all whilst the market sits @ new highs?

A 'trap' alright...even Taleb owns stocks (!).

NYSE Daily Chart & Summation: Close 03/13/2012

Greece scores an 'upgrade', the FED gives the 'all clear', Gold drops (as it should) and Taleb goes on CNBC to reveal he owns stocks, 'cos there's no alternative.

Strange days indeed.

NDX100: Absolutely 'flat' Close on lowest Volume YTD

NDX100 Daily Chart: Close @ 03/12/2012

What with the McClellan (@-8) back below the Zero line and Apple closing @ a record high ($552), but no 'cigar' for the NDX100?

The VIX finally 'prints' below 16% @ 15.64 and perhaps the 'trap' has been set?

NDX100: Doing nothing 'wrong' for higher levels...

NDX100 Summation Index: Close 03/09/2012

The 'correction' may have been 'short & sweet'; investors/ traders chasing stocks on the first attempt lower.

New highs appear imminent, but way well be fleeting and another 'dip' for the buyers?

NASDAQ McClellan Summation Oversold......

NASDAQ McClellan Summation Index: Close 03/07/12

Probably due the 'bounce', as the Oscillator has been 'ahead' of the index in the price action (lower).
The Oscillator (Chart #2) stays below the Zero-line & the Bears have control. The Summation Index (Chart #3) stays above its Zero-line and the 'Buy & Hold' crowd hangs tough..... and 'off we go again' (watch Apple: AAPL).

COPPER: Support @ the 200day SMA a 'cheap' buy?

COPPER Daily Chart: Close @ 03/07/12

Interesting 'way-point' for Copper (and perhaps markets in general - growth concerns) @ the 200Day SMA.
Failure here (below $3.64) would go along way to suggest the 'eager' bulls could be in trouble (yet again).
Support holds & the $4.00 ceiling should be tested again for a 3rd time.

NDX100: Apple @ -2.20% does the 'damage'...

NDX100 Daily Chart: Close 03/05/12

The NDX100 loses 1%, yet the McClellan Oscillator (internal dynamic of the market) actually gains 1.44pts...go figure.
Apple (AAPL) is distorting the metrics of the technical studies and THAT makes analysis more 'art' than science.

NYSE: McClellan points lower........huh!?

NYSE Composite Daily Index: Close @ 03/02/2012

Strange days indeed...............

Small Caps ($SML) were having 'none of it'.....

S&P600 Small Caps Index: Daily Chart Close @ 02/29/12

The S&P600 Small Caps (just like the NDX100 & Russell2000) is a 'risk-on' indicator.

As the chart illustrates, it's been having 'none of it' in the most recent push to new highs in the other indices.

Having said that, the pattern is not overtly bearish, unless we lose the 440 level, with potential then for a move to test the 200 day SMA @ 414.

THE WEEKLY: A Gold sampling..........

THE WEEKLY: GOLD Analysis (02/24/12)

The converging 50/200day SMAs was THE precursor to a large move one way or the other.
Today's (Feb 29th) 4% move lower is exactly the VOLATILITY the chart was telling us to expect.
Our bias has been lower for the Medium-Term, perhaps this is it?