Monday, January 4, 2010
Market Mondays, Continued
A.) This is the first trend line supporting the DIAs, which the index broke in late October
B.) The second trend line is still intact.
C.) Volume has been decreasing, however ...
Note that current volume levels are still higher than those that existed in the 2001+ rally.
A.) Momentum is negative.
B.) Volume inflows are still positive.
A.) The EMA picture is bullish. The shorter EMAs are above the longer EMAs and prices are above the EMAs. Finally -- all the EMAs are moving higher.
The good: Prices are still in an uptrend, the EMA picture is positive and volume has not flown out of the market.
The neutral: upward price movement has started to move in a more sideways direction.
The Bad: momentum just isn't there right now. Declining volume may be an issue.
Posted by Unknown at 3:00:00 PM