Links

Link

Dangerous Signs on the Stock Indexes Trend Following #QQQ #SPY

The QQQ has joined the SPY below it’s 200 day moving average. The index closed near it’s intraday lows and has broken below it’s critical 50 day moving average support level. The relative strength line of the many of the leading stocks is starting to get hit. This is the first time the index has been below this important moving average. The distribution count has now reached dangerous levels( 6 Distribution days) and the fact that the major averages have again lost critical moving averages after just recently regaining them is a very bad sign.

Will we bounce again…Remember this is an old bull market from March of 2009.

Be Sociable, Share!

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>