***** Technical Analysis (July 14)*****
Probably not too much should be made technically from the fact that the indexes did not close near their highs today despite the very positive up/down volume figures most of the day. But the bulls need to see some strong closes in the days ahead to support the bullish case.
On a positive note, the rate of change and OBV have improved, and the MACD has remained positive and is not providing a negative divergence now.
But the Acc/Dist worsened to neutral and the RSIs/MACDs for the VIX and VXN are showing negative divergences as well.
The market can rally more this week and can be in a trading range at recent high levels in July but it is looking tired technically.
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.
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