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Re: ~MulaGreen~ post# 43603

Monday, 02/27/2012 2:24:56 PM

Monday, February 27, 2012 2:24:56 PM

Post# of 162657
What indicator is telling you that it's overbought? I'm looking at MACD and Full STO and they tell the story. Full STO sits right at 20 atm - a sign that it's "oversold" and MACD is trending downward to 0 (or below). This is on the 1 minute. This means, to me, that we're currently consolidating for the next leg. I don't think the next leg will hit until 3:30 EST or so, but it's coming.


Now I can understand if you think we're overbought from the daily perspective, but you need to dig deeper and view the intraday charts. We're trading inside the bollinger bands very nicely with little retail capitulation. Everyone is holding for the news atm.