***** Technical Analysis (December 2)****
A modest decline today did not turn any technical indicators negative but the Money Flow worsened to neutral, which by itself is not too worrisome for bulls but it should improve substantially during any future rallies.
The Nasdaq Aroon improved to positive.
The market remains constructive for the bullish case, with the S&P 500 having made a new recovery high on Monday and most of the other indices very near new highs.
Some of the indices may be forming an ascending triangle which has bullish implications for a breakout to the upside, with perhaps a smaller chance of a multiple top reversal formation.
Gold has made it above $400/oz which confirms the up trend while bonds were little changed but still in a downtrend.
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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