Saturday, February 28, 2009 8:42:32 AM
Dow traded over 3.5 billion shares on 27-Feb (charts)...
...but as long as the intermediate-term MAs are still moving down, there isn't much hope for the Dow right now. Notice how once those MAs start going down, getting above and staying above them is quite the challenge. The short-term MAs are also a disaster. But with over 3.5 billion shares traded on Friday the 27th, could that be the capitulation selling we need to see, or is there more downside to come? Two charts:
Dow, close, 27 Feb 09, 5/10/15 MAs
Dow, close, 27 Feb 09, 30/60/90 MAs
...but as long as the intermediate-term MAs are still moving down, there isn't much hope for the Dow right now. Notice how once those MAs start going down, getting above and staying above them is quite the challenge. The short-term MAs are also a disaster. But with over 3.5 billion shares traded on Friday the 27th, could that be the capitulation selling we need to see, or is there more downside to come? Two charts:
Dow, close, 27 Feb 09, 5/10/15 MAs
Dow, close, 27 Feb 09, 30/60/90 MAs
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