Today was a pause in the down trend.
The S&P 500 Index closed at 1271.83. On a weekly chart, the down trend remains decidedly down. The MACD lines are pointing down. The MACD Histogram is pointing down. The Stochastics are pointing down but well above an oversold condition. On a daily chart, the Relative Strength Index (RSI) is flat lining and hugging the oversold line. The 50-day and the 13-day moving averages are both pointing down. The MACD lines continue to show an intact down trend. The stochastics remain embedded.
In short, the trend remains down until proven otherwise.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
No comments:
Post a Comment