***** Technical Analysis (September 17)****
The technical indicators were little changed today as the major indices were only down very modestly, perhaps resetting. The only change was the CCI which turned positive.
The indices are within earshot of the recent recovery highs and odds do not favor a double top reversal at this time but a breakout within a few days as there are not too many bearish divergences.
The Money Flow, Acc/Dist and OBV are quite positive and the McClellan Oscillators are mildly positive but their Summations are in decidedly positive territory.
The gold market reversed back up after having been weak in the early going while bonds were little changed, though the selling pressure has dissipated for the 10 year note in the past 3 weeks.
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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