The 10-Year Daily chartgrid below shows only the 50, 100, and 200 smas of the
Dow 30, S&P 500, Nasdaq 100, and Russell 2000 Indices, without the candles.
All three moving averages are still in an uptrend on the daily
timeframe; however, the 100 and 200 smas are beginning to flatten, the 50 sma
has hooked down, and they are merging…a possible sign of a
reversal-in-the-making. In fact, the 50 sma has crossed below the 100 sma on the
Nasdaq 100 Index, and is getting close on the other three Indices…reflective
of recent weakness and profit-taking, particularly in the Technology
index.
