***** Technical Analysis (June 30)*****
Even less changed today Monday from a technical standpoint, with no indicators changed and the McClellan Oscillators were virtually unchanged as well.
The market is oversold and without the selling pressure accelerating the last few days, it would seem likely that a rally is imminent.
The Summation Index is falling and it may print a lower high during the next rally, a negative sign. Along with the weekly and monthly stochastics and MACD, there could be several bearish divergences at that time, so keep an eye out for that.
While the next minor move is likely to be up in the days ahead, the next major move could be down over the next few months unless the technical indicators don't show negative divergences and worsening chart patterns don't appear.
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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