Friday, June 13, 2008

Market Remains In A Downtrend

From a technical standpoint the NYSE Index remains in a downtrend channel.

(click on chart for larger image)

NYSE Index chart June 13, 2008
The percentage of NYSE stocks trading above their 50 day and 200 day moving averages have declined from their highs in mid May; however, the percentages do not appear to have reached oversold levels.

(click on charts for larger image)

percentage of NYSE stocks trading above 50 day moving average chart June 13, 2008
percentage of NYSE stocks trading above 200 day moving average chart June 13, 2008


Posted by David Templeton, CFA at 9:32 PM

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