***** Technical Analysis (June 23)*****
Now the McClellan Oscillators are at very extreme negative levels but they could spend some time down here. The market has lost its bullish momentum and started bearish momentum and the question is whether it can find support in the next day or two.
The daily stochastics are crossed down while the weeklies are slightly crossed up and the hourlies are very low and could cross back up.
The sentiment indicators are giving mixed readings and curious ones at that, including the VIX/VXN MACDs.
The Nasdaq MACD, ROC and Williams%R are negative while the DMI, Money Flow and Aroon remain positive, though weakening, and the CCI and Acc/Dist are neutral.
Look for the market internals and closing action in the next 1-2 days to provide clues as to the next significant move.
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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