Going Out on a Limb

In spite of the indecision demonstrated in this morning’s post, I’m seeing a channel set up on the RSI that’s tilting me slightly more bearish.  It’s the dashed, red channel on the chart below. Remember, everything that’s happened since April 4 is technically a back test of a broken rising wedge — unless we break … continue reading →

Next Stop 1462? April 27, 2012

Yesterday we explored the alternate path in detail, noting that one of the two RSI trend lines we’ve been watching had broken, and the second was coming into play. There is the possibility that the downward sloping red, dashed TL will catch it on the way up, but the yellow TL just broken was a … continue reading →