Monday, September 27, 2010 1:34:02 AM
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
------------------------------------
In Response to:
S&P500 weekly showing last 2 week
breaking out the blue down channel
and RSI turn +ve
-------------------------------------
- Dalcindo
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
------------------------------------
In Response to:
S&P500 weekly showing last 2 week
breaking out the blue down channel
and RSI turn +ve
-------------------------------------
- Dalcindo
Dalcindo's Public List
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
