Wednesday, March 28, 2012

28 Mar 2012

BBVA is one of Spain's major banks.  STD is the other ADR I know of.  It is straddling long term support connecting 2009 and the end of 2011.  Of course, someone could see this as the triangle forming that it could break up and out of.  However, the large difference between this performance and many other European banks (UBS, LYG, BCS, etc) tells me that something is brewing in Spain.  Oh, and National Bank of Greece (NBG) is breaking down again.  I think IRE (Ireland) will be soon to follow.

XIV went on a wild ride today.  Down 10% to down 2% at close.  Still overbought using a few RSI timeframes, stochastics, and something I call my brain.
I have been playing with this indicator in my other chart package to try giving us better top estimates.  My traditional short term indicators that work fairly well for bottoms fail miserably for tops due to the low volatility.
 Slight declined today.
Slight decline today.

No comments:

Post a Comment