Technicals - Dow Jones - secondary sell signal generated

Angela Mangan

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.


Comments

Please sign in to comment on this wire.