Market Curiosity: Exploring Markets And Systems

January 6, 2011

Not time to go long SLW

Filed under: Editorials — Tags: , — Jeff Fitzmyers @ 10:51 pm

– A) My favorite stock’s price today undercut yesterday’s hammer. That “failed signal” is not a positive sign.
– B) Weekly and monthly RSI is above 70. Once price turns with those conditions, it can go down pretty fast. Looks like price might break out of the apparent bullish flag, then likely the white up trending trend line.
– C) Weekly CCI is heading down.
D) If price closes below the First price target is around the magenta 170 EMA.

Now is not a good time for me to go long. I will wait until a near term down trending trend line is broken.

References: Ok, Silver’s Drop Is A Big Deal So Far

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