NYA weekly chart at lofty heights with rising wedges. Histogram and stochastics are ready for some selling but the RSI and money flow want to see a matching high again in the future. During the sell offs in January 2010, April 2010 and November 2010, price crosses down thru the 10 EMA to begin the selling. 8337 price is only 90 points above the 10 EMA at 8247. This cross, should it occur, will signal more selling pressure ahead but the RSI and money flow profile must be respected.
Price will want to bounce to come back up near 8500 again. At that time, all indicators should be negatively diverged and the index could roll over for an extended period. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.