Friday's late rally happened very fast, looked like short covering and produced a $TRIN reading of .54 (pretty overbought) and pushed the 30 minute RSI to 56.79 on the $NDX, not overbought, but not far from overbought in a bear market. As the Exponential graph shows, it is just under the trendline that has been respected so far, and a modest further advance could push all of the indicators into solidly overbought territory as it collides with this trendline. Still looks Bearish to me...
1 comment:
Mark,
thanx
old john
Post a Comment