Retest Of Lows In US Stock Indices Is Possible

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Retest Of Lows In US Stock Indices Is Possible

By David Spurr on October 18, 2008 | More Posts By David Spurr | Author's Website

Take a look at the volume drying up on the DIA (DIA) - DJIA ETF, on the hourly chart over the last couple of days. The market doesn’t seem to have energy to push higher, that means we may be headed back down for a retest of the lows.

It’s the same thing on the SPY (SPY) - declining volume on the recent attempt to move higher. Stochastics are also overbought on the hourly charts.

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