Monday, May 24, 2010 1:35:00 PM
Obviously the R1(45.57) will be the first taget and then we'll have to look to the R2(46.68), thereafter, BUT, it'll be a breach of the 13sma, 46.75 and falling, dat'll get us SCREAMING - "Break-Out-Alert", or NOT!?
Posted Sunday:
The 13, 21, and 34 sma's are telling us that there is ZERO chance of a Bottom ANYTIME soon!!
On 07May the 13sma dropped below the 21sma and on 14May the 21sma dropped below the 34sma and this is NEVER a Bullish thing!
In addition, the Close-ing price is also continue-ing to close BELOW the 13sma and this is EXTREMELY BEARISH!!
In summay, our proprietary stuff tells us that ANY UP action should be SHORTED with ZERO concern for loss!!
Date Close 13sma 21sma 34sma 55sma
5/07/10 45.41 49.08 49.25 48.88 47.85(13 under the 21)
5/10/10 47.77 48.90 49.19 48.88 47.90
5/11/10 47.72 48.70 49.13 48.86 47.95
5/12/10 48.62 48.56 49.09 48.88 48.03
5/13/10 47.85 48.36 48.99 48.88 48.09
5/14/10 46.93 48.17 48.84 48.85 48.14(21 under the34)
5/17/10 47.08 48.00 48.72 48.81 48.18
5/18/10 46.43 47.70 48.58 48.76 48.20
5/19/10 46.06 47.46 48.40 48.69 48.21
5/20/10 44.35 47.03 48.13 48.58 48.18
5/21/10 44.84 46.75 47.87 48.47 48.17
The 13sma is at 46.75, hence, price could BOUNCE and close above the R1(45.57), and Still NOT negate the BEAR-ish outlook!?
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