A
shooting star does not a trend reversal make. Looking for confirmation tomorrow of a close below today's close (or even better, Monday's close). Though it may look weak, we can still get a retest from here.
Though the IWM was sold from it's highs today, it only closed a dime off of those highs on relatively light volume, while momentum could be setting up for continued upside.
However, this wall of overhead resistance will be formidable.
Feb.23rd was the last that we've seen a -1000 TICK reading. So, perhaps we should look to that, coupled with some strong volume for clues of a correction worth taking seriously.
Though the IWM was sold from it's highs today, it only closed a dime off of those highs on relatively light volume, while momentum could be setting up for continued upside.
However, this wall of overhead resistance will be formidable.
Feb.23rd was the last that we've seen a -1000 TICK reading. So, perhaps we should look to that, coupled with some strong volume for clues of a correction worth taking seriously.
No comments:
Post a Comment