As you can see the three main markets stacked up on top of each other to make it easier to view.
There is so much drama right now, and the markets around the globe are getting hit! The GREEK news is resurfacing, the Chinese market has been crashing, and the govt in China are doing everything in their power to try and stop the "bloodletting!" even revaluing their currency to try and make things right. But even that is not helping, OBVIOUSLY!!
I will state the obvious about this chart you can see below.
1) DOW JONES, is fairly supressed, it is well under the 50 day moving average. It is still looking kind of weak.
2) The LEADER of the market or the dow jones transports chart is sitting right on the 50 day moving avererage. Normally this is a good sign, but we will want it to go up and break through this line convincingly. So far that is not the case, but we must watch this over the coming days.
3) The UTILITIES sector is heading up fast to new highs. Its one of the sectors outperforming lately with the GREEK CRISIS, and the CHINESE stock market drama. This is a sector to keep your eyes on in the coming week, that is for certain.
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