capital wednesday, page-4

In America:

Dow Industrials -0.33%
Dow Transports -0.24%
SP500 -0.28%
Russell 2000 -0.73%
Nasdaq100 +0.15%

Comment: A modest down day on the Dow 30 and SP500 on volume up slightly on the previous day. The major indices were largely sideways most of the day, but sold off in the last hour.

NewHighs/NewLows 173/10. NH>NL. The ratio of NH/(NH+NL) is at 94.5%. In the Do Not Sell Zone above 80%.

Technical Comment on the Dow 30:

The Dow finished at 13197.7. Dow 30 hasn’t been able to close above the 15 March close.
Indicators:
Stochastic: 77.8. Above its signal line. Possible negative divergence. Caution.
RSI.9 is at 59.8. Positive. Possible negative divergence.
MACD Histogram. Marginally below zero. Neutral.
MACD. Marginally below zero. Neutral.
CCI.14: +67.9. Possible negative divergence.

Until the 15 March closing price on the Dow 30 (13252.8) is taken out, this may be just a retest of that high before a big move down. A close above 13252.8 would be bullish.

Yesterday in Australia, we closed once again below the elusive 4310 level. We’ll open below that level once again today. I’ll be surprised if we get above that level today. A big down day today would be bearish.

Apple Inc. had another closing high last night. Did somebody mention the ACCC? Apparently nothing can stop Apple Inc., certainly not a smack on the wrist from the ACCC.


Redbacka