INDU Dow Industrials Weekly Chart Overbot Rising Wedge Negative Divergence

Dow Industirals now receiving the negative divergence spank down. The red lines show the February top and how the stochastics and MACD histogram showed negative divergence which caused the pull back, but the RSI and money flow showed that they wanted to see another price high in the future. Well, they got their way. Price has now come up for a higher high than Febrauary, and negative divegence is across all indicators now which is firmly bearish.

Additionally, the daily chart is in negative divergence as well reinforcing that further selling is coming for the indexes. If the 12500 level is pierced to the downside violating the longer term lower trendline, that will indicate even further weakness ahead. Dow projection is sideways to sideways down for the weeks and months ahead, sinking into the sunset. 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.