Market Momentum
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Below are two charts adding to the bearish case for the market. These charts help show that market momentum has stalled. The weekly MACD is generally a solid indicator when it crosses under from an extended level.
You have to be at least a little nervous about this chart shown below. The RSI crossed under the 70-level, the weekly MACD experienced a cross under from an extended level, and prices closed solidly under the 10-week for the first time since August 2006.
