Saturday, June 11th, 2016

Market Divergences seen in Indexes


The market is making historic highs, the DOW is at the highest and now SPX is also challenging the 2007 highs set before the financial crisis of 2008 took hold of this country and the sheer devastation that took place. All those economic worries, those hard years and near death of the stock market is forgotten for now. Life has changes but this was no ordinary change. It all seems to have faded in the glory of todays dawn.

Getting back to today- Meanwhile, we note that divergences are occureing in the market place. The RUT has sold last 2 sessions and closed below its 21 day moving average. The Dow transport are rolling over too as seen in IYT ETF in the video. It is just a a matter of time when the genereal market may pull back or maybe not. No one knows that for sure. Financials are weak specially GS and Morgan Stanley MS.

GOOG has broken from the slanted low level sell off, and now claimed its 10 day moving average. Next stop is 21 day moving average as it seems. Lets see how this week turns out to be.

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