Phil's Stock Market Blog

The bull market has shown some real staying power, but last week we saw a total of three Climax High signals. That one on Friday was a real whopper. As of this morning it appears to be taking its toll.

Meanwhile, leading stocks like SNX are threatening to break down. Caution is advised.

Here's the chart: NASDAQ

After today's action I figure this is one of those times when the Climax Highs don't go down much at all. It's par for the course - in a bull market there will be numerous bouts of relatively inconsequential selling on the way up. If the markets take out the highs of the Climax Highs we can take that as a contrary (buy) signal.

I noticed there were Climax High signals yesterday and today in the Nasdaq Composite Index after a nice little run-up last week. The market is amazingly strong, and has been for some time, but it's probably time for a short-term correction. If all goes well we'll see the volume contract and the pullback will be relatively shallow, not indicative of serious distribution.

Here's a chart: NASDAQ

The volume feed has been a bit spotty on the some of the indexes, so the chart isn't pretty, but the signals are still worthwhile.

Ah the memories. I took the GigaScanner back in time to look at stocks and the market, and it was a great reminder of just how well this stuff works! Check out these signals in the Dow Jones Industrial Average.

Obviously this is just a blatant self-promotion attempt motivated purely by self-interest, but the signals on the charts have no ulterior motive. These are 100% genuine, completely objective, highly accurate stock market signals generated in near real-time by proprietary algorithm, every time the database is updated (every 30 minutes).

It's amazing: Gigascanner