You are currently browsing the The MPT Rating weblog archives for the day 10. June 2008.
10. June 2008 by admin.
Tuesday,
The DJIA holds gains into the close as the most oversold of averages has strength others do not posses…
The DJIA; held support with a 9 point gain for the day as investors begin to load up on oversold stocks in anticipation of the rally to come.
The NASDAQ; lost 10 points for the day, and formed an inverted hammer candlestick threatening to break down below the 50 day moving average soon… With the fair value RSI reading on this average and the gaps still in need of being filled on the chart, I would not be surprised to see more selling in tech.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market came in at (05) and though this is our weakest bullish reading, it is bullish and does show “Smart Money” is consistently buying this market pullback – in quality oversold stocks of course.
As always I recommend investors and traders, be smart, patient, and ever successful.
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