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[dalcindo]

Re: SPY

Hi, 3x!!!

the chart is in errible shape (my bad!), but by the indicators, I am suspecting that the current rally is getting close to losing steam, based on the following:
1 - First, the upper border of that channel is getting quite near;
2 - The CCI, Wm%R and CMF are lining up into a trifecta of overbought conditions;
3 - The ADX is now pointing downwards;
4 - RSI bearly reaches the 60-level while above indicators favor a near resistance or reversal.

More headroom remains before above technical signs lose their validity. So for now, i would consider the $118.00 a significant pivotal point, IMHO.

- Dalcindo


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In Response to:

S&P500 weekly showing last 2 week
breaking out the blue down channel
and RSI turn +ve



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- Dalcindo