***** Technical Analysis (November 25)****
The market was mixed in moderate trading and the technical indicators were little changed for the day.
The Nasdaq Money Flow was disappointing today as it fell to neutral while the McClellan Oscillator rose modestly to +3 from -5, hesitating after yesterday's huge runup.
The a/d lines are still trending upward as are the new highs/new lows (cumulatively) while the majority of momentum indicators are unimpressive now except for the DMI (ADX).
The TRINs were only neutral today but the a/d for the Nasdaq and NYSE were 3/2 and 2/1, so that was positive. But there was not strong accumulation today as profit-taking set in.
For the rally yesterday to mean much, there needs to be a strong follow-through on Wednesday or Thursday, and for resistance levels to be broken with authority.
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.
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