MACD and PPO on the COMPX daily have given sell signals, so a pullback probably isn't a bad bet. How low we go, or whether it can turn back up, I don't know, but daily MACD and PPO have been pretty good trend indicators over the last year and change. MACD and PPO sell signals on the INDU and SPX too.
stockcharts.com[h,a]daclyymy[pb50!b200!c20!d20,2][vc60][iud20!lf!ll14!lb14!la12,26,9!lh14,3!lc20!le12,26,9!lg]
Some technical analyst on the radio, Moe Ansari (sp?), has been saying for the last week or so that he's been getting COMPX sell signals for the first time since the end of January.
Industrial numbers seem bad enough to warrant further aggressive rate cuts, but we'll know soon enough... |
