If you’re bearish…

Many markets have broken significant up trend lines and are now in well-defined down channels. 

The NASDAQ has broken a long term trend line from 2004 and is in a strong down channel. 

Nasdaq_weekly_062606

Nasdaq_60_minute_062606

The NYSE is still clinging to the bottom support line but it too looks like it’s in a well defined downtrend on the 60 minute chart.

Nyse_062606

Until the short term downtrends are broken to the upside, there’s no chance that the market can stage any type of a recovery. 

2 thoughts on “If you’re bearish…”

  1. Case the outer edge of the paved circle emerald dial outer edge of the mosaic diamond, at the scale of fifteen minutes and set emeralds, not only increasing the beauty

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