The above chart is the 5- and 10-dma for the NYSE Advancing Issues indicator. Notice that the moving averages are making lower highs even though SPX made a higher high. This is bearish divergence, as it indicates that fewer stocks participated in pushing the index higher12/22/2008
More underlying market weakness
The Advance/Decline indicator is showing further market weakness. I last posted about the overall market here.
The above chart is the 5- and 10-dma for the NYSE Advancing Issues indicator. Notice that the moving averages are making lower highs even though SPX made a higher high. This is bearish divergence, as it indicates that fewer stocks participated in pushing the index higher
The above chart is the 5- and 10-dma for the NYSE Advancing Issues indicator. Notice that the moving averages are making lower highs even though SPX made a higher high. This is bearish divergence, as it indicates that fewer stocks participated in pushing the index higher
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4 comments:
marketbrothers, do you short the eur/gbp directly or go long the british pound?
I shorted EUR/GBP directly.
why is there so much strength in the eur compared to gbp and usd? seems technically way overdone and fundamentally flawed as well
I'm not sure either, but I know that this kind of blow off doesn't last long. I was also watching to short EUR/CHF around 1.58, but never pulled the trigger.
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