Friday, March 12, 2010

IWM - Proxy ETF for the Russell 2000...



Notice in this chart, that the price action has exceeded the weekly Bollinger Bands...This is not that common of an event on the upside, usually happens on bottoms...The daily RSI is a real serious 76.57, which is an extremely overbought reading, and with our double node warning just yesterday...well, if this isn't a rapid reversal target, I don't know what is...

No comments: