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Re: 3xBuBu post# 229

Saturday, 05/09/2009 3:52:14 PM

Saturday, May 09, 2009 3:52:14 PM

Post# of 489
Re: ERX - Guarded

Hi, 3xBuBa!

I remain guarded on this one. ERX did skyrocketed lately (comparative insert below price chart), but signs of fatigue are showing:
1 - RSI congesting towards 70, but fails to reach > 70, so far;
2 - ERX and counter-trendlines form a convergence-high (convergence-high = bearish, just my empirical observation);
3 - Negative divergence formed in secondary indicators;
4 - DI(+) retracing, crossed < ADX

9-Mo., Daily Chart:


D.

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