Tuesday, May 24, 2011

FDX FedEx Weekly Chart

FDX shows a failure of the two year lower trend line in January 2011. This ended the run up from the March 2009 bottom. Price then came back up for a back kiss of the LTL in February and then rolled over. Note the red line negative divergence that forecasted the spank down, as well as the rising wedge formation. Of interest is that copper and financials also topped in February, market leaders in their own right, and adding in the weak shipping aspect, foretells trouble ahead for the markets and the economy. Also note that many market indexes are now testing their lower trend lines from March 2009 as well, following the FDX, copper and financials lead.

The last couple months price has moved sideways, as well as the MA's, but look at what just happened over the last week, yes, price has fallen thru the 20 MA, which is bearish. Projection is sideways to sideways down for the weeks and months ahead. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.

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