Dow breaks trend, others do not
Posted by Cire2222 on May 20, 2008
Today we saw the Dow close below its uptrend line, Bearish signal. However the S&P and the dow transports (been a market leader)are still holding the uptrend and the VIX is still holding downtrend. What does this mean? Is the Dow leading the way down? I think that this market wants to break down and give us a little correction off this rally. If the S&P breaks back down through 1400 level I would expect the selling to continue. The fact that we broke past the 200MA and the 50%fib couldn’t hold is keeping me bearish right now.




