The price weakness experienced by many major stock markets and indices last week – along with ongoing negative technical and sentiment indicators, and a mixed trend picture – continues to suggest caution for market bulls. The real question here is whether the market continues to correct further (which would be healthy for the current [...]
While last week’s strong market rebound has managed to turn the weekly trend picture back to mostly positive, other factors – such as ongoing negative divergences on various price oscillators and still negative sentiment indicators – suggest that caution is warranted. A re-acceleration to the upside is certainly possible here and can’t be discounted, [...]
Last week’s market sell-off has definitely put a dent in what had been up until now an unrelentingly bullish trend picture. While Friday’s strong rally did help most major markets and indices end the week above critical support levels, damage has still been done.
For example, the weekly trend picture – while not (yet) outright [...]
While the latest market trend picture remains overwhelmingly positive, there are some signs suggesting that the market could (finally) be nearing a top of some sort. The latest moves to new highs are (so far) being accompanied by negative divergences on the price/momentum oscillators I follow, as well as by moves to new lows [...]
