***** Technical Analysis (Sept 6)****
Since my last TA update, the market breadth momentum indicators improved. As of Friday the NYSE McClellan Oscillator turned positive and the Nasdaq Oscillator did the same today.
The current signal may only be an indication of a corrective move to be followed by the impulse move down, unless we get heavy volume rally days in the next week.
While there can be some follow-through to the upside tomorrow and for a few days, the risk is high that it will peter out in the next week or two.
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. There are many other TA structures, strategies and systems.
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