***** Technical Analysis (August 15)*****
The blackout didn't affect the markets very much on Friday as stocks and bonds were basically up very modestly.
The Nasdaq TRIN closed at a mildly negative 1.21, with a/d of 1/1, up/down volume 3/4, on extremely light volume of 705M shares. The MACD improved to neutral/mildly negative while the others remained the same, with the OBV, rate of change and Aroon remaining negative and the DMI positive.
The Nasdaq McClellan Oscillator changed by only 2 to +4 from +6, once again signalling a possible major move within 4 sessions as this indicator is wound up like a coil spring. The 10% index is above the 5% one and the zero line, so it is positive for now.
The NYSE TRIN closed at a neutral 1.03, with a/d of 17/14, up/down volume 6/5, on 563M shares. The NYSE McClellan Oscillator rose by 3 to +14, signalling a possible major move within 4 sessions.
The Nasdaq weekly stochastic is 83% crossed down while the daily is 52% crossed up and the hourly is 82% crossed down. The Dow weekly stochastic is 97% going sideways, daily is 89% crossed up, hourly 83% going sideways.
The sentiment indicators have improved as the VIX/VXN's MACDs have crossed back down.
The indices have crossed back up over their 50 daily moving averages again in the past week.
Thus, stocks have either had a resetting technical rally or had a rally this week to set up another substantial move up.
Gold is holding firm as is the USD while bonds have stopped falling for the moment.
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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