***** Technical Analysis (July 24)*****
An early modest stock market rally reversed to close down. Most of the technical indicators didn't change and the bias remains down for the intermediate term.
The Nasdaq MACD remains negative while the DMI, Money Flow and Aroon are mildly positive, and the others are neutral.
The Nasdaq McClellan Oscillator changed by only two to -20 and the 10% index is below 5% one. The NYSE Oscillator is now -46, up 3, and its 10% index is below the 5% one, too.
Sentiment indicators are neutral to negative.
While the major indices have held up fairly well, the Summation has been weaker and the important MACD is negative, so there has been distribution recently, though not severely so.
Gold is acting positive and the lows may be in with more upside likely in the next couple of weeks. Bonds are trying to find a bottom from which to rally.
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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