Helene Meisler writes a daily technical analysis column and TheStreet Top Stocks. For more information, click here. Meisler spent more than a decade on the sell side as a market technician covering institutional accounts at various investment banks in New York City, including Cowen & Co. and Goldman Sachs. In addition she worked at Cargill in Minneapolis where she managed equity money for three years. She received her bachelor's degree in business from Pace University.
Recent Articles By The Author
The S&P 500 dipped and breadth on the NYSE stayed -- barely -- positive, but here's the catch: The McClellan Summation Index just won't turn up.
What just happened last week? Quite a bit, but pay attention to this: For the past two years, the large cap QQQs had been the leaders, but not so lately.
Keep an eye on the Dow Jones Transportation index, as well as the odd reading on the put/call ratio.
I tend to care most about the indicators and underlying statistics, but here I want to discuss some patterns, such as some important potential islands, that are developing.
Here, we'll look at measured targets for the major indexes, as well as some indicators from last week's last full trading day, and see why a pullback or pause is likely to come.