rally, page-9

Observing the weekly chart..

EMA negative.
Linear Regression negative.
ADX is falling..
Volume is trending lower which is bearish in general.
RSI is in neutral territory at 48.40
Momentum is in bullish territory (0.02) but indicates an overbought condition.
Acc/Dist & OBV indicate a spike is possible.
The parabolic is long (short on the daily) but since the short term trend has turned down the possibility for the parabolic sar to be triggered soon has increased.
MACD is in bullish territory (weekly chart) but indicates a short term decline is possible during the next few weeks.

Downside opinion:

Should 8.1 – 8.0 break down, the sp may eventually decline to the high 6’s.
(though perhaps some kind of a spike off 7.2 gap might be possible)

Upside opinion:

I’d prefer to see the current band of technical resistance at 8.6 - 9.0 subdued for now.
A break of 8.6 would be great, but ultimately looking for a close on 9.0 for an attempt at testing 10.0 resistances.

GLA