Today's action did nothing to weaken the current RSI sell signal in fact new intra day signals appeared that support further the view that the top is in. If it can be said that the extreme tick level was only able to contain the Bull from running higher then the newly developed Bearish RSI signal that formed in that battle on the 120 min. chart should serve to press prices down through the 935ish target and with the daily RSI momentum signal as a tail wind should help drive the action through the lower channel and finally on to the price objective of 875ish as a minimum...
Tuesday, June 2, 2009
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