Friday, October 19, 2012

Nasdaq leading the way down

Currently since the change in trend last week was triggered the Nasdaq has lead the way, weighed down by tech heavyweights such as Google and Apple (charts of the Nasdaq and Apple below). This is the most developed downtrend so far, with the pattern of lower highs and lower lows clear to see, coinciding with the channel lines signalling a breakdown.

The FTSE and the DAX are still in a bit of a stronger position than the major US indices, but at the moment the downtrend is still intact, and in spite of some up days earlier this week.

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