Prices are just below important technical levels.
Prices are below the EMAs and the shorter EMAs are moving lower. Additionally, the 10 day EMA has moved below the 20 day EMA.
Prices are at technical support. Additionally, the 10, 20 and 50 day EMAs are moving lower and the 10 day EMA has crossed below the 20 day EMA.
The QQQQs are at important technical levels. In addition, the 10 and 20 day EMAs are moving lower and the 10 day EMA has moved through the 20 day EMA.
The point of all these graphs is clear: the markets are hanging in the balance right now.
1 comment:
Bonddad:
I agree with your conclusion, we are waiting to see "what next?" And to borrow from you while the rally was going on, the last two days of down have seen "below average volume". Will this be the 10% correction that we have been waiting for, or not? Stay tuned and we will see. (According to Correy at Afraid to Trade, we have had 4 previous corrections averaging 6.37%, but none at 10%. By the way, thanks for sending us to Correy, it was an intreaguing read.)
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