Tuesday, October 05, 2010 6:11:59 AM
Re: SPX, $MID, $SML - Reversal Signal
Watch out for the discreet negative divergence signal, especially as it occurred BELOW RSI's 70-line. The 70-line represents a logarithmic level of buying vs. sell strength (not just a algebraic overbought/oversold level!). Buying pressure is waning here as well (i.e.: in reference to discussion in link above).
Additonally, MACD and Slow Stochastic have printed a bearish signal in support of this suspected underlying bearish strength:
SPX, $MID, $SML - 12-Mo., DAILY Chart:
- Dalcindo
Watch out for the discreet negative divergence signal, especially as it occurred BELOW RSI's 70-line. The 70-line represents a logarithmic level of buying vs. sell strength (not just a algebraic overbought/oversold level!). Buying pressure is waning here as well (i.e.: in reference to discussion in link above).
Additonally, MACD and Slow Stochastic have printed a bearish signal in support of this suspected underlying bearish strength:
SPX, $MID, $SML - 12-Mo., DAILY Chart:
- Dalcindo
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