Technical Indicators

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.