Market Mondays

On the SPY chart, notice the following:

-- Prices have been declining for the last year. They hit a low point in November, bounced a bit higher but have been moving lower since the beginning of the year.

-- All the SMAs are moving lower

-- The shorter SMAs are below the longer SMAs

-- Prices are below all the SMAs



Notice the following on the DIA chart:

-- Prices are near their lowest point in a year

-- All the SMAs are moving lower

-- The shorter SMAs are below the longer SMAs

-- Prices are below all the SMAs


Notice the following on the QQQQ chart:

-- Prices broke through key support over the last few weeks.

-- All the SMAs are moving lower

-- Prices are below all the SMAs

Bottom line: these are incredibly bearish charts. Period.