Tuesday 30 October 2012

Dow touches the 200 dma

Although the US markets are currently closed due to Hurricane Sandy, futures are suggesting that the Dow is now sitting on its 200 dma.  In the past it has bounced from here, but the last time back in July/August the 20/50 dma had just gone positive whereas now it is in a crossover to the negative side. There is more negative in the current Dow daily chart than positive, but it will be interesting to see if and when any rally comes how strong it will be. The Presidential election may have something to say about that.

Dow

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