Sirius XM Holdings Inc (SIRI)

[dmlabuda]

The market has been strong. You don't always get a pull back immediately and in some cases, I suppose you don't see it at all. It's just a very common occurrence that I look for but, you have to go with the market in the moment. Right now the current price on the daily chart is about as overbought as it's been but, at the moment, I still see no bearish tension in the MACD which almost always precedes a drop in price. Instead the MACD remains strong on the daily chart. On the hourly chart, there is now a prolonged divergence between the rise in price and the MACD. There is also minor bearish tension. Thus far the price corrections on the hourly chart have been to either the 10 or 20 candle moving averages which indicates a strong bull market. But, with divergences all over the hourly chart now and also a Rising Wedge formation on the hourly chart, if there is going to be a return to the neckline, this is the best indication I have seen that it could happen soon. SIRI - 60 min Candlesticks