The Dow Jones Industrial closed below an important trend line today, it needs a 0.14% - below today last price to give the first short signal since December 20, tomorrow at the close.
The Dax continues relentlessly up, a 1.07% drop is needed tomorrow for a short signal.
The Russell has been giving mixed signals for the last couple of days, today again it closed on short, a 1.25% + gain at tomorrow’s close will reverse the short.
Basic materials, the smallest weight group in the Dow is in daily short mode since February 10.
Financials hold about 10% weight in the Dow, it barely closed below the 271.11 support today. 1.33% or above up close tomorrow is a long signal again.
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- Erick Stern
- I am a civil engineer who likes charts, to me, speculating in the markets is both a hobby and a second profession and in my view the stock market is the most honest environment, since it is only your knowledge and preparation that matters. I live, and work in the construction industry, in the Dominican Republic. I read and answer all my mail so please feel free to write email@example.com Thanks, Erick