I doubt this is the top, seasonality dictates that folks getting
paid end of year bonuses put the money somewhere and with interest
rates hoovering around 1.25% they most likely will buy stocks.
I'd follow the RUT, the 60 min chart has a pretty well-defined
uptrend line and wedge pattern, also follow the 89 period
stochastics, eventually that will break since it's been above 80%
for a month. Watch MACD, it's recycled back to zero, see if it
turns up again or finally goes below zero. However I could
still see one more pop up higher inside the wedge
I doubt this is the
sp 500
Posted by ditch on 31st of Dec 2010 at 12:14 pm
I doubt this is the top, seasonality dictates that folks getting paid end of year bonuses put the money somewhere and with interest rates hoovering around 1.25% they most likely will buy stocks.
I'd follow the RUT, the
Posted by matt on 31st of Dec 2010 at 12:23 pm
I'd follow the RUT, the 60 min chart has a pretty well-defined uptrend line and wedge pattern, also follow the 89 period stochastics, eventually that will break since it's been above 80% for a month. Watch MACD, it's recycled back to zero, see if it turns up again or finally goes below zero. However I could still see one more pop up higher inside the wedge
RUT 60 min
that has in fact been
Posted by frtaylor on 31st of Dec 2010 at 12:25 pm
that has in fact been the main thing I'm watching for an objective short, per your newsletter. thanks!