Wednesday, July 7, 2010

Blue Chips Bull Signal

The exchange-traded funds that track the S&P 500 (SPY) and the Dow Jones Industrial Average (DIA) are both moved to bull phase on Person's Proprietary Signal (pps) on sharp price increases.

On SPY, the macd and fast stochastic are moving in bullish directions, but the parabolic sar remains in bear mode.

Today's price increases are far from being breakouts, and there's nothing so far to indicate that a new uptrend is in place.

Bottom line: Be careful out there.

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