<font color=green>The Nasdaq
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This is a daily chart, three year time period.
The point of the chart is to look at the levels of support we have fallen through.
It looks really bad, and it's going to look worse even if we break through the 2000 mark this week or next.
Here's the same chart, this time weekly over three years.
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CCI says this market is oversold.
RSI is just hitting the oversold zone again.
I believe those downturns in both MACD and Stochastic correspond to the day Chainsaw John Roth decided to let the rest of us know what obviously some people already knew.
Here's my usual view - daily over a six month period.
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MACD buy signal? Hardly.
The MACD momentum lines are continuing their downtrend - bad news for anyone (like me) long technology in this market.
The MACD histogram is negative but has stabilized (it's not falling right now) - that's a hopeful sign.
Stochastic still snaking along down in the oversold zone.
Chaikin Money Flow is getting uglier.
If I wasn't invested right now, I'd be keeping my money in my pocket until this market begins to indicate a rally is underway. I'd look to the MACD for that signal.
If the MACD momentum lines begin an uptrend that will be a good alert signal, IMO.
If the MACD momentum lines trend up and cross the zero line
that may be a good buy signal.
Of course, by then the Stochastic will be giving a screaming sell signal likely.
Tough time to try to make money with long positions.
Cush |
