Technicals - Dow Jones - secondary sell signal generated
QMG Pty Ltd
The Dow Jones previously generated a technical sell signal at 18,085 on 9/9/16. Last night the Dow generated a secondary technical top / technical sell signal. This further negative technical break re-enforces the expectation for a pullback to 17,480 - the minimum expectation for a pullback. It is significant to note that the S&P500 index has also generated a secondary technical sell signal (on 11/10/16), with the downside technical target located at 2075, as detailed in my recent wire(VIEW LINK). Given the two key US indices have generated secondary technical sell signals in rapid succession is clearly a negative momentum indicator for the US market outlook.
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Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
Expertise
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.