Replies to post #47596 on Short Term Trading Member Forum

[techcharter]

Dow Intraday E-wave

Off the low on Thursday, January 10 the transports have made an overlapping rally. Maybe an ending diagonal?
Other indicators support the formation of a near term top:
RSI and Stochastics are well into the overbought area.
The bollinger bands have been widening; however, the price is lagging the upper band rise.
Volume is nothing special despite a 15% rally in 2 months.


http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=djta&time=18&startdate=1%2F4%2F1999&enddate=1%2F4%2F2013&freq=9&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9&x=0&y=0