jeudi, août 16, 2007

Bearish again?

The SP500 and the DJ EURO STOXX 50 have broken their supports.The next 2 charts are thus clearly bearish.

SP 500 hourly chart















DJ EURO STOXX 50 daily chart














The long term picture is still "bull" but as you can see on the weekly term chart of the SP 500, we are approaching the lower uptrend line that was active since the beginning of the bull market ( 2003).
What is worriyng to me is that most long -term indicators (like the MACD) are already bearish
.

Aucun commentaire: