Nouriel Roubini may eventually be right about bank nationalizations and further deterioration in housing prices (see article below).
However, we are finally seeing “technical” indicators showing positive divergences in the equity markets. We are also encouraged that the NYSE Composite Index (chart below) has held a 40-year uptrend that coincided with roughly 6500 on the [...]
It’s been awhile since we’ve shown point & figure charts of the major market indexes. So let’s do that today. One of the things that I like best about p&f charts is their simplicity. Alternate X and O columns are shown. The X column represents rising prices, while the O column shows falling prices. A [...]