From Noted Divergences and More Ponderings I offered this evidence:
The NDX bettered its August high today. I was noting that the FTSE already did last week. Maybe you want to argue that the British index does not move like the US Indices (even though I noted that it does, quite a lot, and in fact most of the time leads the SPX slightly). Fine. But if you are maintaining a 1-2 (Minor), 1-2 (Minute) down count and ignoring the NDX, then you are doing yourself a disservice (IMO).
Okay. So maybe you want to disregard both the FTSE and the NDX. Fine.
But the NYSE COMPOSITE just bettered its August high.
Ignore that one at your own peril.
I think the count is significantly more complicated that many of us (including myself) want to believe. Which is why I am gravitating toward this idea: Ponderings. As I state in that post, I continue to *not* buy a LD ending at the beginning of July as a viable option.
