Tuesday, August 18, 2009

Chart of the Day

click on chart to enlarge

This is a chart of the SP 500. After a historic 50% rise from the March lows it appears that the stock market is forming a rolling top. The MACD has crossed over (lower part of chart -blue line crossing below red line). I find the MACD to be one of the more accurate technical indicators. The MACD crossover suggests that the market will head lower in the days and weeks ahead.-Lou


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