Despite rebounds on Monday, stock indexes in Saudi Arabia and Dubai remain in technical downtrends.
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But the fact of the matter is that uptrends and downtrends often persist without any particular reason.
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There are long-term uptrends and downtrends but at a certain point the market pendulum will change direction.
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Set against the longer-term downtrends in both LME stocks and Indonesian shipments, tin's fall from grace looks anomalous.
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I think Lockheed's inexpensive too, but I see when stocks are on downtrends, you've got to give them some room.
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And emerging markets sagged last week — making their recent rally look like mere bounces within oppressive downtrends rather than decisive recoveries.
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Working against all this is the fact that the fiercest rallies tend to happen in downtrends with the tape under extreme stress.
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"If we hit those numbers, we'll start seeing downtrends, because HIV transmission is taking place from those not on therapy," said Wilson.
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Trader Dan Nathan said stocks like Home Depot and Lowe's may have bounced off of recent lows but are still in downtrends.
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The American stock market has been shuffling along the line separating bull and bear market for months now, with most stocks in ugly downtrends.
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The Australian and New Zealand dollars, generally in more bullish form since long-term downtrends bottomed out in January, rose 0.3 and 0.9 percent respectively.
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Read MoreKensho stats: Dow should move higher into summer However, the analyst doesn't see airlines' short-term downtrends as a sign for long-term worry.
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"What we're seeing right now is the technical downtrends in the market are pretty well defined," said Lance Roberts, chief investment strategist at Clarity Financial.
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The Australian and New Zealand dollars, generally in more bullish form since long-term downtrends bottomed out in January, rose 0.3 and 0.9 percent respectively, also helped by another turn upward in oil prices.
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"I think we're starting to [see] increasing signs of this stock breaking downtrends from last year, [and we're] heading into a very seasonally bullish time for this stock, so I do like UnitedHealth," Newton said.
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Using the correction's two recent downtrends as references, Gordon established that the SPY's support is around the $201 region, though he mentioned that anywhere from $200 to $205 could be used as support levels as well.
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According to Johnson, of the 10 big names that make up 50 percent of the IBB's market cap, five actually look to be reversing their longer-term downtrends, meaning that "something positive is starting to unfold" with biotech's largest stocks.
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Technical analysts have been generally negative on most retail and auto shares for months given nasty downtrends, but last week Renaissance Macro's Jeff de Graaf said GM and other auto-related stocks were starting to appear washed out and perhaps bottoming.
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The strategic location has paid off for Diamondback over the years; it is cheaper to drill in the Permian than in other oil-rich areas of the United States, so the company has been able to profit during oil's downtrends.
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"We need to see those break topside of that, start to reverse some of those downtrends and also move above some of those declining moving averages for this to be a more sustainable move," he said, turning next to the chart of Morgan Stanley.
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By 2006, turbulent downtrends associated with September 11 and the March 2003 invasion of Iraq occurred. Economic conditions necessitated a new wave of reorganization and downsizing in 2008–2009. Upon Luther Wilson's retirement in the summer of 2010, John W. Byram became director of the Press.
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In other words, despite stronger momentum as seen by the higher high or lower low in the RSI, price could not make a higher high or lower low. This is evidence the main trend is about to resume. Cardwell noted that positive reversals only happen in uptrends while negative reversals only occur in downtrends, and therefore their existence confirms the trend.
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An important aspect of their work involves the nonlinear effect of trend. Positive trends that occur within approximately 3.7 standard deviations have a positive effect. For stronger uptrends, there is a negative effect on returns, suggesting that profit taking occurs as the magnitude of the uptrend increases. For downtrends the situation is similar except that the "buying on dips" does not take place until the downtrend is a 4.6 standard deviation event.
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Hammers are found in downtrends A hammer is a type of bullish reversal candlestick pattern, made up of just one candle, found in price charts of financial assets. The candle looks like a hammer, as it has a long lower wick and a short body at the top of the candlestick with little or no upper wick. In order for a candle to be a valid hammer most traders say the lower wick must be two times greater than the size of the body portion of the candle, and the body of the candle must be at the upper end of the trading range. When you see the hammer form in a downtrend this is a sign of a potential reversal in the market as the long lower wick represents a period of trading where the sellers were initially in control but the buyers were able to reverse that control and drive prices back up to close near the high for the day, thus the short body at the top of the candle.
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