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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Beach

Beach

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UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
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*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains
with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Wednesday, July 27, 2011

Stocks Above 20-50-200-Day Averages...

My post on July 14 referred to three charts depicting stocks above their 20-50-200-Day averages as they related to the range-bound equity markets:
http://strawberryblondesmarketsummary.blogspot.com/2011/07/on-different-note.html

I would present the following updated Daily charts as they closed today (charts courtesy of Barchart.com):




It will be interesting to see whether the current levels on all three charts remain below today's close...these large drops and low closes today may be signalling either the beginning of major weakness in the equity markets, or a an exhaustion on the bear side and possible bear trap setup. In any event, I'll continue to track these on a daily basis.

Another chart I'll be watching is the NYSE Summation Index Weekly chart below with a slow stochastics overlayed in relation to the SPX Weekly chart. In the past, a bearish crossover of the stochastics has resulted in a decline on the SPX to some degree...just how much meaning this current crossover has is yet to be determined.



The Daily chart below of the NYSE Summation Index shows a close today just below the 50-day moving average and a bearish crossover on the MACD...signalling the potential for further weakness.


On a side note, NKD closed below the important level of 10,000 today...another index I'll be tracking in conjunction with YM, ES, NQ & TF (it is up very slightly in after-hours trading):