Hello Fellow ChartWatchers!
The US markets continue to s-l-o-w-l-y roll over with the Dow Industrials leading the way. Despite the fact that $INDU moved 100 points higher this week, the intermediate to long-term trend is clearly down. Lots of people talked about the “Death Cross” that occurred on the Dow’s daily chart on Monday when the 50-day simple moving average moved below the 200-day average, but that should come as no surprise to any reasonably-attentive ChartWatchers. Here’s why: