***** Technical Analysis (Sept 16)****
The rally on Friday resulted in the Nasdaq daily stochastics crossing back up after having crossed down mid-week while the MACD and DMI are neutral and uncrossed.
The short-intermediate term indicators are neutral to negative and if this rally peters out this week, watch out for a decline and it could be substantial.
The weekly stochastics, MACD, and Summation Indexes could make lower highs in the next week or two, which could portend a multi-week or 1-2 month downtrend.
Caution is advised for position traders who are long.
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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