I'm observing a potential expanding triangle top which should be limited by the 1018 resistance area on a closing basis. The 1018 area is the .382 key fib level from the Oct. 07 market top. This also lines up with a bearish divergent RSI sell signal, a stalling out of the summation index and all of this occurs at a point where the price spread against the 200 day moving average is about as wide as it has ever gotten absent the crash wides..
Thursday, August 13, 2009
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