The Nasdaq index seems to be leading the way down if we are about to see a turn in the markets. I've been regularly posting these 20/50 dma posts as an example to show the current trend. 20/50 crossovers are often good for many weeks or even several months, but they are lagging and should only be used as a general guide to trend. Question is, are we now in for several weeks or months of a downward trend? The Nasdaq is certainly looking weak, not helped by some poor earnings coming through.
The UK TechMark still seems undecided as to its next move, FTSE100 company Arm Holdings producing a good result the other day. The TechMark looks like it still has room to bounce back, but is it likely to do so if the Nasdaq continues to fall? For once, these charts look slightly out of synch with each other.
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