40 DMA % Index turns mixed to down with the Bernanke sell off.. $SPX [chart]

Score: –2


Wednesday morning I begged the market gods to hold off a sell off so that the 40 DPI would not chop back into the bear territory.  I guess I need a better offering.   We have turned slightly bearish with a –2 score.  The NYSE and NASDAQ stayed above the signal line but the RUT has once again moved below.   There is a two day confirmation needed so now we wait for tomorrow on the others to confirm the downside or if you are a bull for a rejection of the downside.


Video: How to interpret 40 DMA % Index

Download: StockFinder  5.0  – 40 DMA % Index indicator

Follow me: @redliontrader

Leave a Reply