To: Metacomet who wrote (81037 ) 10/8/2011 2:09:16 PM From: Hawkmoon Read Replies (1) | Respond to Very interesting. Maybe explain the sharp reversal just before the Friday close.What's next ... will we have a Rising or Falling Market?Strength has behaved on our C-RSI, 30 day indicator. It has been in a down trend since April, and it has been in Negative Territory since the end of July. That has translated into a DOWN condition for the market during the past few months.What happens within the next few weeks to our C-RSI behavior will determine what happens next in the stock market. First , is that the C-RSI is both below a resistance line, AND below the horizontal zero level. For a hold-able upside market rally, the C-RSI needs to be above the resistance, and above the zero line in Positive Territory . Second , the important thing to notice is that the black resistance line, and the red support line are forming a triangular formation that is fast approaching its apex area (see the circle). but this one has a two month positive divergence bias that the C-RSI has been developing relative to the NYA Index's movement . That could easily cause the CRSI to break outabove the resistance line, but the big hurdle will be for the C-RSI to move higher than that and then close above the zero line. stocktiming.com (link only available for a few days).
