I believe the US markets will be down very bad tomorrow

Nov.18, 2008 in Market Outlook

Indicator 1) 10 day-hourly MACD chart of DJIA and SPX shows top being completed AND is now crossing downward.

Indicator 2) 10 day-hourly Slow Stochastic chart of DJIA and SPX shows top being completed.

Indicator 3) 1 year-daily MACD chart of DJIA and SPX also shows top being completed AND is now crossing downward

Indicator 4) 1 year-daily Slow Stochastic of DJIA and SPX are also turning negative AND are getting into overbought territory

These are 4 main inidicators now in agreement. This has been setting up for about a week now and have just now come together all around the same time. There is now a VERY high probability that we will break down to new lows. I believe these lows will be in the 6,500-7,000 range.

And now with the world markets plummeting, the risk is even higher.
Also remember the bad news continuing to come out every day this week. *Market is so unstable and on the brink, any bit of bad news will cause the market to break out into lower territory. As of right now, many technicals are pointing to a much lower few days ahead.

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