Tuesday, February 9, 2010
A.) Prices moved through the downward sloping trend line and begin moving higher.
B.) Prices run into resistance at the 50% Fibonacci retracement level
C.) Note the EMA orientation. The shorter EMAs (10, 20 and 50) are all moving higher; the 10 has crossed the 50 and the 20 is about to do so; and prices are above all the EMAs.
D.) The stock has plenty of upward momentum, but
E.) Note we haven't seen a big influx into the IEFs. In fact, at one point during the rally we see a drop off.
Posted by Hale Stewart at 2/09/2010 06:39:00 AM