Don't Ignore This Chart!

Defense Index Breaks Support on Sequestration Fears

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The DJ US Defense Index ($DJUSDN) was hit hard the last three days and broke below the January lows. This index is now down for the year, which means it is underperforming the broader market. The indicator window shows the Percent Price Oscillator (PPO) turning lower, but remaining in positive territory for now. A move into negative territory would turn momentum bearish. Click here to see the stocks in this index.

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.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. Learn More
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