A pretty good rebound today in the market. It was on lower volume than yesterday, but that has been the story of the rally since March. Price trumps volume, so I don’t think that is a big issue. The indexes closed above their 50-day MA’s. Also a good sign. However, an oversold bounce after Wednesday’s […]
Last night, I posted the chart of the Russell, showing how it had broken it’s 50-Day MA. This was likely a sign that the other indexes would soon follow. Today, The S&P 500 and NASDAQ followed.
Only the Dow is still above its 50-Day MA, but expect it to follow the other indexes lower.
This of course […]
More chop in the market today. Although the 3 major indexes look OK for now, holding up above their 50-Day MA’s, the Russell made a strong close below it today after recently forming a double top.
It seems that the Russell could be a harbinger of what’s to come in the other indexes.
If the S&P 500 […]
