***** Technical Analysis (Sept 24)****
Very little change in the technical indicators from last week, as the weak market confirmed and extended the negative readings in most of the short-intermediate and short term indicators.
Breadth and breadth momentum indicators worsened this week, setting up either a dead cat bounce rally this week or an acceleration of the decline.
We are far from oversold levels in the intermediate term, so
caution is advised for position traders who are long.
Dr.Bob's commentaries are not to be construed as recommendations to buy or sell stocks, options, or ETF's as Dr.Bob is not a Registered Investment Advisor. Information and data provided here is believed to be reliable but cannot be guaranteed to be accurate.
Always do your own research and due diligence before investing or trading. Remember that Technical Analysis can change by the day, and as such, one day's TA may not be the next day's TA interpretation.
Dr.Bob's mission is to teach Technical Analysis and demonstrate a structured approach to Market Analysis, for position and swingtrading. There are many other TA structures, strategies and systems.
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