The broad market has finally succumbed to an increasing array of negative factors – including subprime worries, investor complacency, extended price levels, and negative technical divergences – that it had seemingly been ignoring for the last several weeks/months. A significant correction was due, and the current downturn certainly qualifies – for example, the S&P [...]
Despite ending last week on a decidedly down note, the major market indices remain at or above key support levels and still continue to reflect a positive overall trend picture. That said, leadership appears to be narrowing with the DJIA and Nasdaq showing the strongest performance, and some segments of the market have gone [...]
The breakout to new highs of most major market indices and a virtually all-positive trend picture confirm that the intermediate-term trend remains up. Not everything is painting a rosy picture here – sentiment indicators aren’t bullish and some negative divergences remain on longer-term price oscillators (although negative divergences on shorter-term oscillators have been negated) [...]
The market’s positive action last week – including new recent highs for the Nasdaq – has turned the current trend picture back to bullish from the mixed picture it presented a week ago. While the market in general remains extended and sentiment indicators are still negative – both possible causes for concern over the [...]
The market experienced more weakness last week, but at the same time hasn’t (at least so far) broken down. Overall its behavior since the early June highs suggests consolidative – rather than topping – action from an intermediate-to-longer-term perspective. A very mixed current trend picture however is providing few clues as to whether [...]
