Below are three charts of the SPX as of 08/08/08.
The first is a 3 line break chart which is suggesting that a change in the current trend is taking place. The BLUE DASHED channel is still in effect until broken to the upside/downside. The interesting thing is the 3,13,1 MACD momentum started setting higher lows back in March while the 8,34,1 MACD diverged. Then a break down, then back up and retest of original trend, as shown by the then blue rising trend line. The 8,34,1 has now joined the parade with the 55 & 144 ema appearing to flatten out. The story on RSI is still out.
The next two charts are current updates of charts posted in June.
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