Wednesday, September 14, 2011

14 Sept 2011

 Nasdaq, the most strong of the indexes, still has some resistance to overcome.  Today, it failed at the 50 ema and my trendline.
 This showed some strength in that it stopped at a higher low than before.  Although it sounds very subjective, I don't like the form of this latest slowing and upside, but that might not matter.
 This seems to be forming a lower high than the previous high which is bullish.
This formed a higher low at the last bottom which was bullish.  Now we are at 52% which is neither oversold nor overbought.  Basically, we need to watch to see where it peaks.

Honestly, I'm a bit confused about direction here despite my arrogance a few weeks ago.  When I'm confused, I usually sit out mostly for a better sign.

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