Below, the chart that counts. Below we see the Dow, still well above its 200-day MA. This is despite a number of imponderables, any one of which would be capable of sending the Dow crashing below its 200-day MA.
Below we see the percentage of NYSE issues that are trading above their 50-day MAs. This study is still below 50% at 40.47%. Despite this bearish study, the Dow is still above its 200-day MA.
Retail is not looking very good, as you can see below. This together with the poor housing statistics makes me think that the Fed will continue with its QE program. Actually, this rebound from the Great Recession has been one of the weakest post-recession "recoveries" since WWII.
Germany is the hope of Europe. Really? You wouldn't know it from the P&F chart below. Here we have a bear signal with a price objective down to 7750.
How about the international scene? ... Log in or subscribe to continue reading.
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