On the intermediate term nothing has yet changed in the ratings although we are getting signs of movement in the right direction. The Index closed below its negative sloping moving average line. However, the momentum indicator has moved up sharply and is now above its positive sloping trigger line. It is, however, still in its negative zone and a little more upside is still required to get it into the positive. For now the intermediate term rating is still ***** BEARISH.
On the short term, this is where things are starting to happen. The Index closed above its short term moving average line and the line has turned to the up side. The momentum indicator is moving sharply higher, above its positive trigger line but is still just below its neutral line. It is now above its previous tops from the past several weeks of lateral Index activity. The volume indicator has crossed above its trigger line and the line has turned up. As mentioned above, the Index has also crossed its third FAN trend line with vigor. All this gives us a short term rating that is now ***** BULLISH.
On the immediate term or very short term the Index is above its very short term positive moving average line. The Stochastic Oscillator has moved aggressively into its positive zone, above its positive trigger line and above all of its previous tops from the past several weeks of lateral Index activity. The short term momentum and Stochastic Oscillator are telling us that the move of the past few days has more power or strength behind it than one might perceive from the Index action itself. The very short term or immediate direction is considered as ****** BULLISH.
This is a good example of the shortest term moving first and then followed by the next longer term, etc. The very short term showed its strength yesterday, although the rating did not quite make it to the bullish level, it ended one level below the bull. We can now look forward to the intermediate term coming into the game.
Short Term U3O8 Sentiment is " BULLISH " . . . Cheers to the U-Bulls from grant64 :) . . .
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