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Indicator Update for June 22nd

Posted on June 22, 2009

Last week's indicator review found that As long as new lows exceed new highs, we have to look at this as a potential trend shift that could take us well into May's trading range. We did, indeed, see those new 20-day lows continue to outpace new highs, taking us briefly below 900 in the S&P 500 Index before bouncing higher late in the week.The bullish momentum that we saw sustained from the March lows (top chart) has been lost, a situation that commonly occurs during topping processes. New 65-day highs, which peaked early in June, have steadily declined since then and now stand barely highe...

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bear market , bull market , highs , lows , momentum , new lows , sp , trading