Big Money Movement in the Dow — Watching it could have helped you catch the ride down

Market Pulse: Aug 22, 2011

Last week the September E-mini Dow contract opened the week at 11,268 and closed the week at 10,820. Weakness in bank stocks in Europe and the United States drove the market sharply lower for the week. The lack of progress on debt issues in Europe helped spark heavy selling overnight Thursday and the markets saw volatile trading on Friday closing near the lows, down 197 points.

On the daily chart below you can see that ADX numbers went from 60 to 46. While the trend weakened a bit, we still see a strong trending market. MACD did lose a large amount of divergence but is still below the signal line and Stochastics corrected from oversold territory but are now heading down again.

Proceed to Page 2 for the latest COT Data...

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