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July 27, 2005
"Mo" alert, Wed., July 27, 2005, 10:19 AM
The Dow 30 momentum indicators like RSI and MACD are indicating divergence from the higher equity prices in New York. This is not a positive sign for those who are bullish on U.S. equity markets.
Today, the Dow started very strong, and 50 minutes into the session turned negative. In fact, had Boeing (NYSE: BA) not been up so much early on, the Dow would have fallen in line with the S&P500 and Nasdaq indexes quicker than it did.
Remember, I said that the last few minutes of the day is more telling that the start.
Posted by Posted by Bill Cara on July 27, 2005 10:18:50 AM | Category: Cara Today in the Market