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11.9.13 Saturday
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S&P 500 Index
Daily Chart with MACD Hisogram
Despite of the Friday’s turnaround to gain everything back from the previous day’s sell off, as we can see, the momentum has been favoring the bears with possible bull trap bounce yesterday.
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Dow Jones Industrial Average
Daily Chart with MACD Histogram
Looking at Dow Jones, we do not have MACD Histogram crossing below the zero line yet but the momentum has been slowly depreciated. Once this histogram crosses below the zero line, would have to assume that the momentum could continue to decline thus making this index to deteriorate.
2 thoughts on “Why I am Still NOT Bullish $SPX $INDU”
I see you’ve posted DJIA and SPY. QQQ also trade similarly with those other two, so will QQQ’s also roll over? IOW, the above thinking about DJIA and SPY can also apply to the QQQ chart, yes?
keizer_soze well yes if the dow and s&p rolls over, i have no doubt that qqq’s will follow