The Bonddad Blog
Still nerdy after all these years
Monday, November 17, 2008
We're still consolidating. However, there are plenty of reasons to be bearish on this chart. Notice the following technical developments:
First -- note these are exponential moving averages. These moving averages give more weight to more recent data.
-- All the EMAs are moving lower
-- The shorter EMAs are below the longer EMAs
-- Prices are below all the EMAs
We're still consolidating in the triangle.