On the daily chart notice the following:
-- The general trend since the end of August is down
-- All the shorter SMAs are heading lower
-- The shorter SMAs are below the longer SMAs
-- Prices are below all the SMAs
-- Prices have moved below the 117 level, but have bounced back to 120.
This is still a bearish chart. But the good news to today we saw the slide stop (at least for now).
1 comment:
the slide stop could have something to do with the fed hinting it might buy all the bad mortgage debt off financial companies. The mind boggles.
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