It was neat the way we touched the 200 dma on the NASD on tuesday and then sold off
stockcharts.com[w,a]daclyymy[pb50!b200!b21][vc60][iUb14!La12,26,9]
We also had made it up to the 200 dma on the BKX on tues.
stockcharts.com[w,a]daclyymy[pb50!b200!b21][vc60][iUb14!La12,26,9]
also notice that the NASD, BKX, SPX had their first daily momentum RSI divergence on their latest highs on
tuesday. back on Nov 15th-16th I pointed out on the thread how none of the averages had created a momentum
divergence on the daily chart and hence we would most likely not see a meaningful selloff until we created
a momentum divergence and presumably got the averages up to their 200 dma's
stockcharts.com[w,a]daclyymy[pb50!b200!b21][vc60][iUb14!La12,26,9]
the XBD (the brokerage index has actually been leading as it broke above it's 200 dma earlier in the month.
stockcharts.com[w,a]daclyymy[pb50!b200!b21][vc60][iUb14!La12,26,9]
lets see if it and MSFT get support as they come back down to their 200 dma's
also notice how the SPX, BKX, and XBD have gotten support in the last day as they have come back to their rising
21 day moving averages.
It was interesting how high the TRIN got yesterday, closing near 2.85, and we saw 2.30 early this morning. |
