***** Technical Analysis (Jan 27)****
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
It shows that the momentum is slightly positive and that it is getting close to being very overbought. The CCI is high now at 100 but could spend some time there, while the MACD is crossed up and not yet too overbought. The NASI Weekly is also going higher and has room to go.
Below are the McClellan Oscillator and Summation for Nasdaq:
stockcharts.com
All are positive so we could see a continuation of the recent choppy rally.
Small cap and microcap energy stocks have relative strength and some small cap technology stocks do as well.
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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