Momentum turns negative

 

 

Summary 

The second consecutive net monthly decline, settling powerfully lower by -5.1%. The first monthly settlement under the key 10MA since last April. Monthly momentum weakened for a fourth month, settling negative for the first time since last May.

With negative monthly momentum, we have a monthly SELL signal.
Natural target is the lower bollinger, currently 5291, if due to adjust upward to the 5300s as of April 1st. There appears 'comfortable' downside to around 5700, which would arguably equate to Dow 40K.
-- 

For more of the same...  https://www.tradingsunset.com

Monthly momo weakening

 

 

Summary 

A high of 6993, if cooling back to 6775, and settling net lower by -60pts (0.9%) to 6878. 

Monthly momentum ticked lower for a third month, due to turn negative as of April 1st.
Monthly RSI remains an overbought 74. Another monthly settlement above the 10MA, as the m/t trend remains bullish.

S/t alarm bells if <6600, which would take out the monthly 10MA and daily 200MA.
-- 

For more of the same...  https://www.tradingsunset.com  

Net bullish January

Summary 

A new hist’ high of 7002, if cooling back to settle net higher by +93pts (1.4%) to 6939. December's hollow red reversal played out. .

Monthly momentum ticked lower for a second month, if remaining moderately positive.
Monthly RSI remains an overbought 76. Another monthly settlement above the 10MA, as the m/t trend is unquestionably bullish.

Upper bollinger is offering 7088, and set to adjust to the 7100s in February.
-- 

For more of the same...  https://www.tradingsunset.com