There’s a lot of chatter on CNBC about some allegedly bad data on the NYSE this afternoon. John Thain, the head of the NYSE was on the floor checking on things after the Dow hit a 200 point air pocket around 3 PM. Here’s the chart with 15 minute bars:

And the chart with [...]

I went to Ian S. Notley’s presentation at the Atlanta MTA meeting earlier tonight and I was very impressed. Ian is a walking encyclopedia of market and technical analysis information. At one point he paused to ask the host how much time he had left. After a back & forth with the [...]

Well we finally got some decent selling. The most interesting thing I see is the Dow hovering just above 12,000. The bull-bear battle for control of that line should be a good one over the coming days. My guess is that it breaks — if for no other reason than to test [...]

Michelle B submits: Several bloggers have commented recently about CNBC’s excitable coverage of the Dow Jones Industrial Average setting a record. Since a price-weighted index containing a very small number of stocks is fairly insignificant in the trading world, why did CNBC latched onto to this relatively unimportant event?
During the time of the technology [...]

[begin soapbox]
All the hype talk about the Dow being close to a new high has been driving me nuts. It always annoys me when people refer to the Dow as “the market”. Just yesterday I heard a couple of people on CNBC look at the indices and say that “the market” was up. [...]