UTX United Technologies showing the W pattern bottom last summer that launched the fun. Once Chairman Bernanke cranked up the QE2 money machine, the buying orgy began. As UTX price moved into February, the green lines, behavior remained long and strong and another higher high in price was needed. This recent move above 85, red lines, meets this demand and now all the indicators are lined up with negative divergence. The weekly chart is negatively diverged as well.
The 20 day MA now crossed under the 50 day MA which is bearish. Price should roll over from these levels and move lower going forward. 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 finanical advisor before making any investment decision.
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