Powershares Clean Energy ETF PBW Chart Analysis

There is a Green Energy Stock Challenge that I have been thinking of entering since it began. However, I have been using the PBW as a guide to help me enter the market to buy the shares to make up the $200,000 virtual portfolio. There was nothing in the charts to tell me that it was time to enter the market, and the past two weeks have proved me right. If anything, I wanted to sell short or to buy puts on most of the stocks that I considered worth buying (that met my criteria) that were eligible for the stock challenge. Since I wasn't interested in "daytrading" or "scalping" the stocks for any upmoves, I decided not to enter the stock challenge at this time.

Weekly chart shows no buy signal at all.

The daily chart shows the PBW trading below all moving averages, especially the 34ema now which shows a strong downtrend. We also hit a LIS and now "old support becomes new resistance", and we have fallen through the 200 sma and heading down.