On the weekly chart, you can see that price is already below the 40-week moving average.
The weekly chart of the Spyder Trust ( SPY) covers from early 2011 though October 2012.
The pattern is also visible on the weekly chart, as indicated by line 1.
Another such signal might be any bearish reversal lower on a weekly chart, Newsom said.
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However, from a look at the weekly chart above, my money is on CME eroding further.
The weekly chart of XLY shows several periods of consolidations within the overall uptrend.
The weekly chart shows that the long-term downtrend, line a, was overcome in early November.
The weekly chart shows that NUE broke through a major downtrend, line a, in late December.
We need a weekly close below 12, 974 to shift the weekly chart profile negative.
The weekly chart shows that it has also broken through long-term resistance (line e).
The weekly chart for April gold futures shows the market has reached extremely oversold levels.
The weekly chart appears to be forming a broadening trading range (lines a and b).
The weekly chart shows that QQQ is right in the middle of its weekly Starc bands.
The weekly chart of UUP shows a short-term flag formation, lines d and e.
The weekly chart shows a more than four-month trading range (lines e and f).
The weekly chart shows that TLT has also retested the breakout level from May (line f).
The weekly chart shows a slight uptrend, line b, from the early 2012 lows.
The weekly chart covers from the end of April 2012 up to the present.
Only the Russell 2000 had declining MOJO and thus has a negative weekly chart profile.
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The weekly chart shifts to positive from neutral with the five-week MMA at 1, 410.00.
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The weekly chart shows that key support (line g) going back to 2010 was tested in August.
Technically, the weekly chart profiles for all major averages show extremely overbought 12x3x3 weekly slow stochastic readings.
This is in a technical environment where the major averages continue to have bearish weekly chart profiles.
And from the looks of weekly chart above, its business operations are handling the loads just fine.
The weekly chart shows a shallow uptrend (line e), and this support was just retested last month.
In the last 2 weeks, on the weekly chart, it closed above the 40-week moving average twice.
The all important weekly chart stays positive on weekly closes above the five-week modified moving average at 12, 434.
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On the weekly chart, the entire continuation pattern took the shape of a flag, lines 1 and 2.
The positive weekly chart continued to confirm the October 4 low at 10, 404.49 as the low for 2011.
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For determining the swing trade profit potential, I roll back to a weekly chart to take my read.
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