All major indexes are back at the SMA 200 line. Judging from the overhead downtrend lines and SMA 200, we shall see some pullback unless the bulls take charge from here.
Tag Archives: Downtrend
QQQQ
If you’re aggressive, short it. The downtrend line has pushed it right back.
SLB
SLB dropped from the downtrend line.
LU bounced back after good earnings, but …
LU must break out from this dreadful downtrend line or this pop would be just another good short! The hammer stopped right below SMA20 too. We shall see soon how the bulls and bears resolve on this one.
YHOO is breaking out
YHOO is breaking out from its downtrend line. If you like to play break out, it’s the time. Or you can wait for its pullback, but the pullback should not dip below the downtrend line.