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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (13177)	6/7/2012 10:05:39 AM
From: Hawkmoon	Respond to of 33421

Yeah.. the resolution is a bit distorted so I can't quite make out the indicators. What I'm watching is the MACD to see if it can sustain a positive trend. bigcharts.marketwatch.com It's going to require one hell of a rally to turn that Stochastic positive though.. and 1400 will prove to be resistance at the upper bollinger band. And you can see from the chart above that it never really penetrates that monthly BB for very long. So something will need to happen to make the BB go from a "pinch" to a "flare out", permitting return to upside (or following the lower arm to the downside). It's all going to depend on what occurs in Europe, IMO. Either they plug that financial leak sufficiently, or we have a relapse of 2008++++ (even worse) with collapse of the derivatives system, bank runs, and a flight of capital to the USD, Gold, Silver, etc.. (hard currency) Hawk