***** Technical Analysis (Feb 10)****
Technical indicators have been getting whipsawed of late, especially the short term and short-intermediate term ones.
Below is a favorite one:
stockcharts.com[m,a]waclyyay[pc30!c20][vc60][iUd20!Ua12,26,9]&pref=G
They indicate some toppy possibilities.
Below are the McClellan Oscillator and Summation for Nasdaq:
stockcharts.com
They indicate some potential weakness ahead of us although it will be choppy and some short term rallies could occur as well.
Small cap and microcap energy stocks have relative strength while some small cap technology stocks have lost some strength. Energy majors have been weak recently and may need some time to bottom.
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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