Disclaimer - Monday, page-2

Welcome back Jako,

Yearly Highs and Lows

Staying above zero, supporting the move in the XJO all looking pretty "steady as she goes".

Candles

A series of shooting star and hanging man candles indicating some susceptibiltiy to a downturn, but Fridays marazubo has removed any chance of a confirmation - that and the fact that the move punched through the resistance at 5225.

Fridays candle occurred on pretty much average volme and volty. It's interesting to note that the average volty is dropping, indicating that this move could be a steady sort of move.

RSI

This has come into the OB range of the RSI. So either it will reverse, or the trend will continue (ha! they done come more ambiguous than that!). What I mean to say, is that at this point the OB"ness" of the XJO should make itself clear with reversal candles ( or other technical paraphenalia) . If it fails to do so, assuming a trend is the safer option.

Cylce charts (not shown) along with the Yearly Hi/Lo summation support the conjecture that the market will continue to rise.

Wheres @piotrvip ? - he's ver good at reading RSI type stuff



Have a great week everybody.



MFx