A other indices have firmed and crossed up through important moving averages, we maintain a bullish bias and will set trailing stops as this rally unfolds.
Click here for the latest market tour on StockCharts.com.
Monday, June 21, 2010
Bullish bias persists
Several indicators depicting internal market strength are assessed each day as we tour through the financial markets. On Friday, we noticed that the McLellan Oscillator applied to the New York Stock Exchange index crossed up through its 20-day exponential moving average. A cross through this average has previously market intermediate-term turning points in the S&P500 (the last cross was down during the final week of April). See the chart below (click on the chart to enlarge).
A other indices have firmed and crossed up through important moving averages, we maintain a bullish bias and will set trailing stops as this rally unfolds.
Click here for the latest market tour on StockCharts.com.
A other indices have firmed and crossed up through important moving averages, we maintain a bullish bias and will set trailing stops as this rally unfolds.
Click here for the latest market tour on StockCharts.com.
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