| Another big down day for the VIX (options volatility index, first chart below) coupled with a very low .41 reading in the equity put-call ratio suggests an almost complete lack of fear on the part of traders. As we said earlier this week, price may continue higher, but watch out when it turns. The bank stocks (second chart) managed to hang on to its uptrend today, but is forming a clear bearish rising wedge. A longer-term look at the S&P (third chart) suggests the rally could "wedge out" around 910-915. In the short-term (fourth chart), support is 886 and 879, and resistance is 896, 905, and 907-915. The Dow (fifth chart) has support at 8320 and 8275, and resistance at 8400 and 8500-8522. The Nasdaq 100 (sixth chart) continues to lag the Nasdaq, a negative. The Nasdaq (seventh chart) has support at 1400, 1380 and 1365, and resistance is 1430 and 1465. Finally, internals were solid again today - except for a decline in new highs on both exchanges, which is not something we want to see more of. Selling leading stocks is never a good sign. ChartWatchers Newsletter - May 17, 2008 - StockCharts.com::
LOOKING A LITTLE TOPPY. Ive been bullish since my earlier bottom call in January. ChartSchool - Learn the basics of Technical Analysis or brush up on your
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 A Survey of Momentum Plays - Barrons.com::
a third group -- steel -- that looks to be toppy and that threatens the few Getting Technical Mailbag: Send your questions on technical analysis to us at
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Thoughts And Links :: Top Gun Financial Planning::
Mindfulness and Individualism. All at Once. Its looking toppy to Kirk. Sentiment Analysis (88) Sports (1) Stocks (235) Technical Analysis (50)
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ContraHour: March 2005::
Combining fundamental, technical and sentiment analysis into a semi-coherent investment outlook while real estate is looking mighty toppy right here.
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Technical Analysis: Sentiment Looking Toppy 
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