DJIA Outlook for June 15 – 19, 2009
Posted by Bonner Dytoc
Tuesday, June 16, 2009 23:05
Tuesday, June 16, 2009 23:05
Posted in category DJIA Outlook, US Market
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The DJIA has continued its sideways movement while staying above the 200-day moving average.
It may look resilient at first glance. However, I don’t trust the movement as the volume has been declining since May.
The other thing that makes this resiliency suspicious is that there’s a bearish divergence now in the MACD.
Since this is what is being presented to us, we have to be quick in taking profits while the market is still in this area as a fall seems to be in the offing.
Recommendation: Take profits
Support: 8642
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