Looking at some technicals, the potential must-win is underlined by the fact that the three major market indices each closed last week below their respective 50-day moving averages. These trendlines can have an important impact on short- to intermediate-term buying and selling as more active traders often use them as a gauge of technical health. Unless the "big three" see some increased buying during the next few trading sessions, the path of least resistance will likely lead lower. In addition, these key 50-day trendlines are beginning to level off and may begin rolling over to the downside since the faster-moving 20-day trendlines are poised to cross below the 50-days. This technical activity would add to the short-term bearish outlook and should serve as a warning to those with bullish short-term positions to trim down their winners.
DOW Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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