From my perspective, we are now entering into Stage 3 for the major indexes, all of which are now below their 30 week moving averages. At this point, the moving average line is slightly up or flat, it is not going down into Stage 4. Interestingly, the global Dow is above. Generally it lags the US markets but not this time.
- Broad indexes except GDOW are below their 30 week moving averages
- DJIA vs NYSE A-D: Both Down
- Divergence: DJIA vs NYSE High/Low: Both Down
- 200 Day MA NYSE A-D: Below the line for the first time in a long time
- NYSE 52 Wk Highs-Lows Diff: -519 meaning more stocks were at their lows
Tech took the biggest hit this week.
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