The Dow Jones Defense Index ($DJUSDN) plunged on Wednesday and broke support with further weakness on Thursday. This move reverses a five month uptrend. MACD also moved lower and is on the verge of turning negative for the first time since mid June.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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