Sunday, March 9, 2008

Technical Indicators

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The last two sessions have moved the indexes close to the January 23, 2008 lows. Over the last week we may notice that the Nasdaq 100 was behind the S&P 500 and DJI in this rally down and as a result we have some difference in the technical indicators on the 60-day chart. The S&P 500 and DJI 60-day technical analysis are not optimistic. The majority of the indicators are still in the negative territory by pointing to the possibility of the further slide. The NASDAQ 100 60-day indicators are less negative but they point to the posibility of slide as well. Yet, as I always state the 60-day charts should be monitored in real time – what is negative today could become positive tomorrow within the first hour of trading.

SP 500

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