AI
Thursday, January 22, 2009 9:00:26 AM
FNFG
I would not call this a pincher play as the PPO is barely below 0 and the ADX is below 30. That said it looks like a bottom has set. The RSIs are all confirming trend reversal back up, the TRIX(3,3) is turning up and the Wm%R is crossing -80. I would still want to see the MACD start moving bullishly. Just keep in mind as a financial play it will probably trend the market, so while most indicators show recovery if the secotr falls this is likely to go with it right now.
I would not call this a pincher play as the PPO is barely below 0 and the ADX is below 30. That said it looks like a bottom has set. The RSIs are all confirming trend reversal back up, the TRIX(3,3) is turning up and the Wm%R is crossing -80. I would still want to see the MACD start moving bullishly. Just keep in mind as a financial play it will probably trend the market, so while most indicators show recovery if the secotr falls this is likely to go with it right now.
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