Triple top for the DOW on the daily chart and these hits with immediate pullbacks are not healthy. Techs are flashing warning signs as well: the SOX did not participate today and NASDAQ trading between the 10 and 20 day moving average, whereas DOW and SPX above both. This divergence is bearish, since techs were the leaders. A close by the DOW above 10600 negates the bearish scenario.
click on chart for full size
click on chart for full size
This entry was posted
on Monday, June 13, 2005 at 6:24 PM.
