Monday, April 19, 2010

Chart updates

I sent an interim to my email list this morning, updating the price threshold for SDS flipping Long in its Daily Trend Model.  SDS is moderately leveraged and represents a good proxy for any intermediate market downturn.

 DJIA Daily Trends with EW analysis

Once again we can see a divergence between last week's highs and the Elliott Oscillator in the bottom panel.  A break down here will represent a Mechanical Sell Signal, although for our purposes, a break of the trend line will suffice.

NNVC Daily Trend Model with EW Analysis

Meanwhile, no such divergence appears on the NNVC chart, suggesting a continuing Wave 3 advance, subject to minor pullbacks along the way.  It would take a close beneath $2.04 to change the Daily Trend to down.


FAZ Daily Trend Model