Stock Market Technical Indicators & Analysis
FRPT had a GLB (green line break-out to ATH, see glossary, retested it and is now moving up. I nibbled at it yesterday even in the face of this market down-trend. Having recently inherited a wonderful mini labradoodle, I know how much people spend on their pets. I have a tight stop loss order in, in case it weakens. Chart below is weekly. I am also watching a new pet stock ETF, PAWZ.
Daily 10.4 stochastic is similarly overbought for DIA and SPY and IWM. Arrows show green dot signals (oversold daily stochastic cross) where advances have begun.
During this down-trend there are still a few growth stocks (about 10) hitting all-time highs (ATH). DORM is one, as shown by this weekly chart. Note last week’s above average volume at the Green Line Break-out (GLB, see blog glossary). I wrote about FN last week.
The indexes are right up against resistance after the snap back rally. Daily stochastics are very over bought. This week should tell whether we re-test the lows or break through.
