Wednesday, November 05, 2008

Futures weak - 60-min set for a 'sell'

Futures point to a soft open following a day of gains. The 60-min charts are showing developing weakness with divergences between technicals and price. The Dow has a series of new highs on lower volume

The Russell 2000 has already triggered a 'sell' in the MACD.

Daily charts all bullish so this should be a retracement, not a return to the withering losses of before.

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, market alerts and stock charts website