Still room to decline
Today the market liked the positive side of the line, which was expected from the 4 hour chart score yesterday. The Daily and RumWave scores are continuing on the trend of getting "less bad". However, I would not be surprised by a resumed downward trend tomorrow or Thursday. Overall, I am still in a HOLD status on my short 3x ETF.
|DJIA 4 Hr Chart|
|DJIA Daily Chart|
The Daily chart above shows no signs of bearish sentiment letting up. Still plenty of room to decline here, especially when we consider the levels on the slow stochastic and the %B studies.
|Reader Requested Scores|
For my AAPL fans (and I know a lot of our readers are using Macs and/or iPhones to view the blog) the 4 hr looks OK, but I wouldn't be a buyer here based on the yellow return on the daily chart.