***** Technical Analysis (Dec. 9)****
The daily stochastics and Summation Indexes continue to give positive short term signals. The daily stochastics are overbought with "d" approaching the "k" but the weeklies are not overbought. Several more positive signals occurred this week.
The overall market reached oversold conditions over a month and half ago and have since turned up, and are starting to get momentum to the upside.
Usually solid bottoms are marked by extremely oversold levels on intermediate term technical indicators but not always.
They had reached moderately oversold conditions but not extremely so.
The current uptrend may continue in a choppy way but now may become a more steady up trend.
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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