GOOG was also featured last week as a bellwether that wasn't looking too good.
GOOG breaking down out of a top formation today-volume is increasing.
Here's my crossover screen to help prevent false crossover signals. 3 things need to happen. The 10 day price moving below the 22 day moving average. The yellow indicator in the middle window is a custom indicator I created, the blue line is its moving average, that also needs to cross below its moving average. then finally, RSI 14 needs to be below 50, you can see even though price had 1 moving average crossover, the other indicators didn't confirm, recently, in the white boxes we have confirmation of a short sale signal. The red box is a possible pullback area as GOOG is likely to test broken support, usually to the 10-day m.a., but in tops things are more volatile so I'm putting the red box for a possible pullback closer to the 22 day m.a. So if GOOG bounces, know that this is a common occurrence when a major top breaks down-that appears to be what is happening now. So there you have it, I'm not just picking on AAPL.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
No comments:
Post a Comment