***** Technical Analysis (March 11)****
Technical indicators appear to have topped and some are coming down from moderately high levels, indicating a decline of significant proportions is going to occur soon if it hasn't started already.
Below is an important indicator:
stockcharts.com[m,a]waclyyay[pc30!c20][vc60][iUd20!Ua12,26,9]&pref=G
They indicate a bearish reversal.
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, but a sharp decline is increasing in probability.
Small cap and microcap energy stocks have relative strength while some small cap technology stocks have lost some strength.
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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