On the bearish side, MACD does diverge negatively and I would say confirmation would come with a loss of the lower line (EMA 50) and associated support.
http://www.biiwii.blogspot.com
http://www.biiwii.com
Monday, March 7, 2011
Small caps illustrate a tough market
Look, we all want to get bearish right? Today was bearish, yeh? Well, pardon me if I try not to get whipsawed by getting bearish just yet. The chart of one of the leaders (RUT fund IWM, which would be expected to lead a correction) has not yet done anything on the inflammatory Libya/oil hysteria that it did not do on the inflammatory Egypt/oil hysteria. The chart shows the two and the moving averages have not yet broken down.
On the bearish side, MACD does diverge negatively and I would say confirmation would come with a loss of the lower line (EMA 50) and associated support.
http://www.biiwii.blogspot.com
http://www.biiwii.com
On the bearish side, MACD does diverge negatively and I would say confirmation would come with a loss of the lower line (EMA 50) and associated support.
http://www.biiwii.blogspot.com
http://www.biiwii.com
