The Hedge Funds Weblog
The weekly trend in US stocks
The Major US index`s ( Dow 30 , SP 500 and NASDAQ 100 ) Closed in Weekly sells. They joined Russell 2000 which has been in a Weekly Sell for 3 weeks.
The action in the Markets have reflected a lack of buyers over the last few weeks . Now with the US Ten Year Note braking out of its range we should see some heavy selling in stocks . The US home builders index"HGX" started the down trend as it slipped in to a weekly sell after 8 weeks in a Buy.
The Tech stocks in Broadband sector Made a strong effort over the last two weeks…After coming out of a 12 week Weekly sell signal . At one point it looked like buyers had come back into this weak sector. But last weeks action has shown a lack of buyers . And with out Broadband buying , we wont see US market Run up from here.
Semiconductor Stocks on the other hand have had buyers for 7 weeks giving US Big Cap index's strength . But the smaller index's like NASDAQ and Russell suffered and traded sideways with not much action . Now this week the semi`s have falling out of there 7 week up trend into a weekly sell.
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Comment on October 27, 2009 03:25 amjonathan@10xcap.com
Jonathan -212.929.4245