Sunday, February 10, 2013

Still Watching For Market Top

The market continues to hover near the all time high territory. The DJT and the Russell 2000 continue to make new all time high. There are signs that the market is getting ready to pullback a bit, but no sign of a market top yet. One of the leading sector that been pushing this market up has been the financial and they continue to hold the higher ground. There is negative MACD divergence showing, this could be the first sign to warn the market participants to be cautious.

Here is a video reviewing the price actions and looking at some possible near term price levels for the market indices SPX, DJI, DJT, NDX, RUT, and some financial stocks JPM, C, BAC, MS, and GS.

Click here to view the video if you do not see a video player on your screen.

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