Looks like it's testing support nicely at 40 on the 60 minute.
The real question is does it hold? Notice it appears to
be in a wave 5 on the 60 with divergence in the oscillator, that
jives. But, could it have a bit more downside before it's
done, yep. Maybe, Maybe not. I think if the market
breaks it does too. You know what they say about free
advice.
Not Matt but maybe this helps you
matt, about erx
Posted by johnc on 19th of Aug 2011 at 12:12 pm
Looks like it's testing support nicely at 40 on the 60 minute. The real question is does it hold? Notice it appears to be in a wave 5 on the 60 with divergence in the oscillator, that jives. But, could it have a bit more downside before it's done, yep. Maybe, Maybe not. I think if the market breaks it does too. You know what they say about free advice.
thank johnc
Posted by qwich34 on 19th of Aug 2011 at 12:28 pm
ERX via XLE 15 min
Posted by bkout3 on 19th of Aug 2011 at 12:24 pm
currently looks more bearish than bullish to me but JMHO