Weekly MACD on NDX, COMP, and SPX still pointing down, although improving. That's more important overall than the daily MACD everyone is mentioning, IMO.
stockcharts.com[h,a]waclyyay[pb50!b200!d20,2!c20!c13!b20!f][vc60][iUb14!La12,26,9!Lh14,3!Li14,3!Lp14,3,3]&pref=G
However, the indicators are turning up from deeply oversold levels, but they can turn down just as well.
The candles and volume today were very bearish. Even taking WCOM's volume out, we had 350-million fewer shares on the COMP with a higher day. If that's not a top, I don't know what is. |
