Weekly Technical Analysis of the Dow Market Index

[likesmoney]

Originally Posted by StockJunkie

9917.99 high from Sept 23rd is the price to watch on the Dow. I stopped purchasing long positions and have been moving to cash since two weeks ago.

Great weekly chart mgtrader. Also note (not shown on your chart but there) is that the MACD is closing in on what would be a bearish crossover.

I am cautiously pessimistic.

The Bearish Divergence on the MACD on the Daily chart is concerning.

The weekly chart is still Bullish.

The Weekly $Vix just broke below the 200 MA -- Bullish

Happy Trading

[likesmoney]

We have mixed signals on the daily

The weekly is starting to show signs of being overbought.

The weekly VIX now below the 200 MA - signals that we should still head higher.

[StockJunkie]

Likes you should start tracking distribution and accumulation days. Looking at the S&P 500 there have been a very noticeable increase in distribution days over the last few weeks. Even though we broke to higher highs again recently I think these distribution days are a big sign that we are getting very close to topping.

[likesmoney]

Originally Posted by StockJunkie

Likes you should start tracking distribution and accumulation days. Looking at the S&P 500 there have been a very noticeable increase in distribution days over the last few weeks. Even though we broke to higher highs again recently I think these distribution days are a big sign that we are getting very close to topping.

Thanks for the suggestion, I think that you are spot on.

I did look at it on the weekly chart.

In previous weeks, I did look at the Accumulation/Distribution and will probably look at it again.

Happy Trading

[likesmoney]

Both the Daily and Weekly charts are showing Bearish signs.

The VIX is below 23.














We are seeing some profit taking.

The markets may see a correction which is one thing. However, I think Ben Bernanke will step up the printing presses to keep the markets Bullish.

[likesmoney]

The Daily and Weekly charts are looking Bearish.

The Vix shot up by over 37% this seek to close above 30 -- Very Bearish


Attachment 294

(Note to Stocktrading 101 -- I had problems with my attachment this week, so I used image codes instead)

[likesmoney]

There are conflicting signals on the Daily Chart.

The Weekly chart is mostly Bullish and the Vix is Bullish.

I think that the Dow will retest the 10119 Level.

If successful, then will challenge the 10310 Level.

[likesmoney]