The Bonddad Blog
Still nerdy after all these years
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.