The weekly Full Stochastics never got anywhere near oversold in the recent down move. It still remains on a weekly sell. We could be in a fake up move like the one we saw during June 2004. This indicator warrants caution on the bullish side ! Any failure here will end up as a backkiss and could lead to swift price decline.
Monday, November 14, 2005
SPX - Weekly charts - 11/13/05
The weekly Full Stochastics never got anywhere near oversold in the recent down move. It still remains on a weekly sell. We could be in a fake up move like the one we saw during June 2004. This indicator warrants caution on the bullish side ! Any failure here will end up as a backkiss and could lead to swift price decline.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment