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Re: DiscoverGold post# 582736

Friday, 09/23/2016 8:05:58 AM

Friday, September 23, 2016 8:05:58 AM

Post# of 648882
Almanac Trader: DJIA & S&P 500 down 5 of last 6 Fridays

* September 22, 2016

Since the beginning of July, NASDAQ has been the star and its leadership is continuing this week with another all-time high close today. NASDAQ was up 6.6% in July and 1.1% in August, and as of today’s close is up 2.4% so far in September. This is noticeably better than S&P 500 which was up 3.6% in July, down 0.1% in August and is currently up 0.3% for the month. For the month of September these results are better than past election year averages, but there is still time remaining. These gains could hold or could just as easily vanish before month’s end.







A month plus of sideways trading preceded an early September dip by DJIA, S&P 500 and NASDAQ. This action lead to a slow deterioration of Stochastic, relative strength and MACD indicators applied to all three indices. Strength the last two days has reversed that trend and all three technical indicators across all three indices are now positive. Tomorrow could prove pivotal in providing further confirmation that the market has regained traction and can sustain recent positive momentum. A solid gain on Friday would be a sign that confidence is returning. Over the last six Fridays, DJIA and S&P 500 have closed down. NASDAQ’s record is slightly better, but it has been down three of the last five Fridays.

http://jeffhirsch.tumblr.com/post/150788856588/djia-sp-500-down-5-of-last-6-fridays

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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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