Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Friday, August 19, 2011

Big Pivot Monday - Tuesday 8/19/11

Stock Market Technical Analysis
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On Monday's open everyone will be watching the DOW to see if its 50/200 lines start a bounce or begin the downward death cross.  If the DOW  steps up to the task it will save the NASDAQ from losing its neutral position and start to reverse the S&P death cross.  If the DOW doesn't bounce Monday, the bulls will have to pull back to their last line of defense,  the lows of last week which are marked with a thin red line on all three index charts.  The afternoon sell down dramatically increases the pressure on the bulls to make it happen Mon/Tue.  Buckle up as their could be huge volatility swinging the market in either direction and possibly back and forth until the 50/200s are resolved.