Another look at the indices

The markets are at a turning point on the weekly trend as I suggested yesterday. Most of the indices have similar looking patterns and often move together. The recent rally in the market starting from the low back in the week of March 17 has come to the downtrend line on the weekly chart. This is a decision point in the market.

I want to show in the series of charts below how a 20 day 4 hour chart, essentially a half a day, compares with a 1 month Daily chart. The signals come sooner than they do on the daily chart using the same moving averages. For a recap of using bands of moving averages see here. I will be displaying the following charts: the Dow, the Nasdaq, the S&P500, the Russell2000, and GLD for the gold bugs. Click on the chart to enlarge.
The Dow


The Nasdaq


The S&P500


The Russell2000


The GLD