All the indices are wedging up and showing weakness as they move toward breaking out below the lower trend lines. Negative divergence has formed on RSI. With the percent of stock over the 50 day moving average, the odds are greater for a move down rather than for the trend to continue.
Subscribe to:
Post Comments (Atom)
http://jackschartpatterns.blogspot.com/2009/04/long-in-tooth-trend-growing-weak.html?showComment=1239800160000#c5965945768930298648'> April 15, 2009 at 7:56 AM
Hey, Jack, thanks for all you do. Really appreciate your work!