Shows slight confirmation of yesterdays green day.However, it was not able to show Higher Highs and Higher Lows.Sign that the bulls are not overpowering the bears yet.Other confirmations are : the minimal hidden strength in the MACD, no crossing of 10 DMA and 20 DMA on the up side.
Stochastics are below 20 is the only clear positive signal
Result : Market is indecisive.Direxion bear funds are a risky trade at the moment because it is unsure of where the market is going at.There are also several government announcements that will influence the market.This will have the same effect as earnings so it is a sign to stay out of the market.
