Content:
Momentum:
MACD: Positive
RSI: Neutral Trend
Stochastic: Sell
Daily Price Action Trend: Negative
Last relevant high: 16,485.8
Last relevant low: 15,503.0
Comment:
Following on from our comments yesterday it should come as no surprise to avid readers that the Dow fell in yesterday’s session. We are coming down to the low point of the calendar year, this has no real technical significance more than a psychological level but it is possible support could be found here.
We remain with a long way to fall according to the momentum indicators, which we must remember are lagging indicators and fall in effectiveness in very volatile markets. Needless to say without government intervention the short term view remains bearish.
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