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US market - it is technically significant and extremely bearish that the 3 key US indices generated sell signals in rapid succession - the Dow Jones last...

Angela Mangan

QMG Pty Ltd

US market - it is technically significant and extremely bearish that the 3 key US indices generated sell signals in rapid succession - the Dow Jones last Thursday and both the S&P500 and Nasdaq last Friday. As detailed in our previous wires the US market was recently located in extremely overbought territory on a momentum basis, with parallels to where the market was positioned in 2007 being highlighted. The US index technical tops /technical sell signals that have been generated, has flagged that the corrective phase is now well underway, with further downside expected.


Angela Mangan
Angela Mangan
Technical Analyst
QMG Pty Ltd

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.

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