The NASDAQ is currently trading right on the 200 day moving average with stochastics still heading down. The Dow and S&P 500, after sell signals and a close below the T-line, did not use the 200 day moving average as support, making the 50 day moving average the next likely target. The trend analysis is very simple. Stay short until you see candlestick reversal signals.
November 13th Daily Market Comments
The NASDAQ is currently trading right on the 200 day moving average with stochastics still heading down. The Dow and S&P 500, after sell signals and a close below the T-line, did not use the 200 day moving average as support, making the 50 day moving average the next likely target. The trend analysis is very simple. Stay short until you see candlestick reversal signals.