Most of the indices, except HangSeng and BSE Sensex (Indian index) are in a downtrend.
So, what should we do ? Of course, make money..Look for good stock candidates to short and short them if you are not already short!!
Photo: Barcelona by Paco CT
US INDEX:
Dow Jones Index
The trend is down. It is below the 50 day and the twenty day moving averages. Keep shorting stocks. Do not buy any new stocks.
DIA ETF
This ETF mirrors the Dow Jones Index. The trend is down. It is below the 50 day and the 20 day moving averages. It is just plain ugly and does not look good.
QQQQ ETF
This ETF mirrors the Nasdaq. Finally, the trend really turned down. It went below the 50 day and the 20 day moving averages.
SPY ETF
This ETF mirrors the S and P Index. The trend is down. It is below the 50 day and the 20 day moving averages.
EUROPEAN INDEX :
FTSE Index
The trend is officially down this week. Notice it went below the 20 day and the 50 day averages. Start looking for good shares to short.
CAC 40 Index
The trend is down here, below the 20 day and the 50 day moving averages.
DAX Index
The DAX is now trendless. It is neither bullish nor bearish. It it falls below the 50 day moving average, the trend will be bearish.
ASIAN INDEX :
NIKKEI Index
The trend is down and bearish.
HANG SENG INDEX
Surprisingly, this index is holding up and is in an uptrend. It just touched 20 day moving average for support. Usually stocks or index test on 20 day moving average before zooming up or crashing down to the 50 day average for support.
BSE Sensex Index INDIA
Surprisingly, this index is holding up and is in an uptrend. It just touched 20 day moving average for support. Usually stocks or index test on 20 day moving average before zooming up or crashing down to the 50 day average for support.
