TECHNICALS-COMPQ
The NAZ COMP is trading right at it 200 day SMA after ramming through it a few days ago. Notice the last time it ran up to the 20o day back in June, the markets took an ugly turn down.This time, the stochastics are overbought and may just be turning lowre and MACD Histogram has certaintly made a lower low as the COMPQ made a higher high. A check of the Rate of Change indicator shows the same picture with a lower high. So the question is are we out of juice? My bet is yes, however, I note lots of weekend commentary on why the markets will be heading lower next week. Just food for thought as we all know the markets don't like to accomodate the crowds.
Final comment. Why do the American golfers do so well in the big golf tournaments but fair so poorly when they go head to head with the Europeans at Ryder Cups?
posted by DAVID at
10:48 AM
2 Comments:
Maybe in the next Ryder cup the Americans can leave the "world numbers 1 through 5" at home and go with 6 to 10 plus a couple of seniors.
I don't mind losing just hate being beaten so severely - should be a half to a one point game.
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