Woody,
The first bottom is best projected by the weakness in the 89,3,5 and 13,8,8. They're almost as bad as they can get. Almost. Right now the 4,3,2 has begun a swing up that should peak in one to 3 days. From there, as the 4,3,2 moves back down, the next 4 or so days will see the 89,3,5 and 13,8,8 find themselves very oversold while the 233,21,34 will likely be moving closely toward or below 60. During this time the 13 dRSI will also likely reach oversold. A technical bounce from the oversold reading on the shorter term stuff will then start a deceleration in the 233,21,34.
One more ride to nearly oversold on the shorter stochs and a shallower dip on the 13 RSI to start off some divergence on a double bottom is the next usual step.
Now on to some decent looking charts:
One to add to those oils here is DO. A cycle low appears put in and the next swing up should start now.
Others urelated to oils are KTWO, GLFD, PVSW, VOX, ALLP.
ALLP came of the same 4,3,2 ROC scan of yours that hit ACRI...which, by the way, can be consiered an HTF breakout. 8 to 16 on the first leg so 32 would be the target on this next leg.
TLK is still in an opportune area.
And CYRK has possibilities.
And AKLM is getting awfully fidgety.
Doug R |
