F - still reflecting the wider market

With the main indexes closing moderately lower for the 7th day out of 8, Ford (F) continued to reflect the main market, closing -0.9% @ $16.90. Near term trend is weak, but there should be strong support in the price cluster zone of 16.50/00.


F, daily

Summary

So, another moderate decline for the main market..and indeed.. Ford.

Underlying MACD (blue bar histogram) cycle ticked lower for the 13th day, and is now getting somewhat close to what will surely be a cyclical floor.

Ford should find support in the 16.50/00 zone this week. Only with a break under the mid August lows in the 15.70s..can equity bears have any realistic 'small hope' of a test of the rising 200 day MA - which by late Oct' will be around $15.
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Despite short term weakness, broader trend clearly remains to the upside. As some recognise, a break into the 20s for Ford, would signal 'something rather interesting for the US and World equity markets.