Friday April 21, 2017
Stock charts features a series of blogs by various technicians. As I scanned through them one particular title caught my eye. Better than anything else I have read,
it seems to sum up where the markets are now.
Martin Pring's Market Roundup21h ago
Some Markets And Key Ratios Are At The Brink, But At The Brink Of What?
Agreed, I read multiple reports and newsletters.Right now you can read that the rally continues, or this is a short term correction, or the big top is expected this summer,
or the markets topped March 1.
Weekly INDU
The blue dots are the PAR SAR signal, which flashed sell on the drop from the late February high.
At bottom MACD has crossed over to the downside.
the markets have not re visited the 50 week MA since July 2016.
So at least a short term correction is under way.
Anadarko PetroleumAPC
APC has a market cap of $33 billion. Markets gain or lose momentum when exponential moving averages come together nad then head in another direction. that happened at the first blue arrow last August. Now we are at another critical juncture. The EMAs are clustered together. Support looks to be around 60. MACD has generated a downside crossover in February.
Apache
The EMAs have broken further for APA market cap $18.65 B. But it may be that $50 will hold.
And it may be that these two charts are bell weathers for the entire market. Notice the headlines lately, oil leads markets lower.
APA Daily
APA is re testing support around $50 on this daily chart. On balance volume at top is certainly low. MACD is arguing for more sell off as it has risen since the last price low in APA and ow is headed down.
APA Daily Two Months
Here is a close up look with the Money Flow Indicator added at top. I don't know how this will turn out, all we can do is track the situation.
But I do know this is likely to be highly predictive for the rest of the market.
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