Lisa. FWIW, here's what I see for RMBS.
Looking at the p&f chart, RMBS ran to 108 before correcting and breaking some DB's. Trading range is 82-92, and holding. Up days are usuaally followed by down days, so the selling has yet to dry up. AIQ has been giving signals for the last 5-6 trading days that suggest the ema's have slowed their declines, and suggesting a reversal will follow. Intraday lows are meeting some buying, with the closes at 84-86 or so, which is support at the longer-term ema's. I use 4, 9 and 16-week emas, and the 16W ema is about 84.5.
For believers in RMBS, buying near 82-84, then a TT breakout at 93, and back up into the 100's.
Of course, I could be wrong. But this is what I see.
Dennis |
