<font color=green>The Indexes - some notes
On the Dow Daily chart, you can see the how the price hit the 20 day MA and moved along it (decending) for a day.
During the day, Friday, with the markets having their usual volatility, the price on all three exchanges was dropping in sync with the Daily MA.
Notice how on all three Daily Exchange charts, the +DI and the -DI appeared to be heading for a bullish cross, and then veered away from each other like matching poles on two magnets.
These hold signals will mean nothing without DMI confirmation. If we do get that, it's going to be bullish, but remember these are Daily Charts. I'll be a lot more comfortable if the Weekly Charts begin giving bullish signals.
The Oil & Gas Index has been all over the place. Much too volatile and unpredictable for me.
The ADX, combined with the Stochastic (for now) and the MACD, looks bullish to me.
Like the golds, the oils are a specialized group, I don't follow them closely enough to trade them, on a regular basis, at this time.
For now, I'm watching both groups from the outside.
This past few weeks, I've acquired, and added to my portfolio, some small techs. If time allows, I'll post my small-tech portfolio on my site, before Tuesday.
Hope everyone's having a happy Thanksgiving.
Cush |
