Sabtu, 14 Mei 2011

Weekly market overview

The major trend is still up, but the S&P 500 is now churning on very low volume, waiting for some catalyst to trigger the next move.  In view of the bearish momentum and volume divergences, I think that move is likely to be down.  The RSI plot, in particular, looks like a mirror image of the configuration seen at the 2009 low!  Over the last few months I have gradually sold enough stock to be at

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