ta observations

Taking a look at today's chart for a glimpse into tomorrow's price action.

(Yes Rob it's for tomorrow, so pay attention)

DMI is in bullish territory.
TRIX is in bullish territory, but overbought @ 20.13.
Linear regression in positive.
RSI is somewhat oversold at 46.90..

HPI and MFI are currently neutral.

EMA turned negative..
Momentum is in bearish territory.
Parabolic is currently short and in bearish territory. Also came close of reaching the parabolic SAR, showing some weakening in the downtrend.
Rate of Change is in bearish territory. (although oversold)
VROC suggests a continued selloff is likely.
MACD is in bearish territory..
ADX still falling...

Should there be another spike in the morning, the sp could be subdued at the low 9's once again. Perhaps @ 9.2 resistance. (or maybe even higher?)

Would like to see the sp break out of 9.2 (on close) for a sexier chart. Yes, 9.2 is a good level for ST profiteers and aborts. (depending on the markets hey Rob)

The next level of support will be 8.5, but whether it'll be holding up or collapsing in the short term is another argument.

The bare minimum closing value I could live with for tomorrow is 9.1.


GLTAH