Monday, March 30, 2009

Stocks Sell Off



If you read my post from last week, you would know that I was questioning the current stock market rally. What bothered me was that the leader of this stock market advance (NASDAQ) was displaying a very significant bearish divergence when compared to the advance decline line as can be seen in the above chart.

Stochastics are in the zone for a sell off and the NASDAQ has also broken its uptrend line. Looks like the market is going to get hit with some selling pressure over the days to come. You can read my original post from last week by clicking this link.

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