Forbes -
19 Aug 2013 18:08

The sharply lower weekly close in the major averages last week was consistent with the deterioration in the technical studies, especially the market internals. These indicators, as well as the OBV on key ETFs like the Spyder Trust (SPY) have now broken support and are below their declining WMAs. Most are also testing their daily starc - band so they are currently in a high-risk sell zone. In Friday?s market analysis, I noted that the technical formations typically favor a one- or two-day rebound...
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