BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Today's technical outlook: Watch out for a bear trap]]>http://www.bloggingstocks.com/2009/02/18/todays-technical-outlook-watch-out-for-a-bear-trap/http://www.bloggingstocks.com/2009/02/18/todays-technical-outlook-watch-out-for-a-bear-trap/http://www.bloggingstocks.com/2009/02/18/todays-technical-outlook-watch-out-for-a-bear-trap/#commentsFiled under: ,

With turmoil in virtually every equity market, caused by the uncertainty of the world's economies, there was a rush for the exits Tuesday. But negative breadth of 14-to-1 on the New York Stock Exchange -- with just 1.6 billion shares traded -- is usually not the mark of a breakdown but of an emotional selling climax.

Yesterday, the Dow's close came within just 0.31 of the index's lowest close made on Nov. 20 at 7,552.29, with decliners on that day ahead by 15-to-1. Curiously, on that day the Nasdaq recorded breadth of 6-to-1 compared to a negative 5-to-1 yesterday.

Continue reading Today's technical outlook: Watch out for a bear trap

Today's technical outlook: Watch out for a bear trap originally appeared on BloggingStocks on Wed, 18 Feb 2009 09:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bear trapBearTrapdjianasdaqnysesam collinsSamCollinsshortsWed, 18 Feb 2009 09:30:00 EST