There isn't a whole lot of support under the lows of last
summer.... and we just broke under them. The positive
divergences look (to my amateur eye) like a "recycling back to
zero" and they have resumed a bearish daily cross. Doesn't
look terribly oversold here either. Finally, we have every
key moving average stampeding downward at a menacing looking
angle.... all in bearish configs.
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Lost the lows of last summer....
GS
Posted by kalinm on 18th of Jul 2011 at 12:00 pm
There isn't a whole lot of support under the lows of last summer.... and we just broke under them. The positive divergences look (to my amateur eye) like a "recycling back to zero" and they have resumed a bearish daily cross. Doesn't look terribly oversold here either. Finally, we have every key moving average stampeding downward at a menacing looking angle.... all in bearish configs.