typically results in a reversion. Over bought territory, profit taking imminent
A break imminent in coming weeks, watch for TL break first
Nicely held the ground during 2 volatile weeks. Need to see volume for next leg up
Declining 10 wk MA not good yet, I expect it to drag feet until ER
Today's close pivotal but scaling $SPX monthly put credit spreads $SPY
but I always listen to a 5/20 DMA cross. Most times results in a spurt
around $52.22. Increasing volume, decreasing price not a good combination
Probably several weeks to go. Strangely I expect an M&A with $YHOO or $GOOGL (Long LEAPS calls)
Must be getting institutional support, volume trend increasing. W ATH $57.62
Breakout imminent, if not a breakdown. 40 wk MA held but declining
in progress. $37-$39 heavy volume area, anticipate weeks before real recovery.