Weekend Watering

[xfradnex]

Here is one of my “leading indicators” charts, stacked, weekly.
Note how the “leaders” took turns calling tops/bottoms over the last six years, via neg and pos divergences (note especially yield, which called most of the turns).
Yes…what lovely chartS…. point is, I don’t see anything diverging and calling a bottom yet…do you?
Note: this is the first time I’ve used industrial metals as “leading” (so, grain-o-salt there). It is certainly more stable than the bubblicious silver and gold charts, but needs more study as a “tell”.
This is a work in progress; comments encouraged.
http://stockcharts.com/h-sc/ui?s=$SPX&p ... =248618588

Here is my gold chart; I’ll try to post a better one later.
http://screencast.com/t/2YLAighY74

Dral, it looks like, for most charts, that we have taken a recent 3 month dip and pull up to a point to where some type of continuance of a right side of a year wide dome. Slopes of MA are rolling over. Most charts look like they will touch the MA and will drop. I would experiment with lower MAs on the lower charts, which would produce more hills, then use the tops of those hills as a slope line (lower high), for earlier indicator of top/bottom. Tom Mcclellan uses Eurodollar futures as a indicator. Futures ahead S&P by year. found this http://www.cftc.gov/OCE/WEB/eurodollars.htm . Your indicators look like they are of significance. It looks like BKX is showing a lower low already. Ready for the roll over of the SPX.

[waverider]

To further elaborate on Mr. Bachs statement:

"When price moves less than 5% and then returns to the triangle and
stages a breakout on the opposite side, the triangle is a so-called busted pattern,
and the move in the new breakout direction is likely to be large.: -Bulkowski