Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Ocote who wrote (10946)	1/21/1998 12:20:00 AM
From: Doug R	Read Replies (6) \| Respond to of 79273

Ocote, you are correct about the 13 day RSI breaking line AB. The stickler here is that notch line. There's a second notch down along the same section of the RSI as the first notch. Notch line 2 stopped the RSI today. This is where things begin to get iffy. A look at the stochastics shows we're still going down from here. Even the 4, 3, 2 didn't appreciate the move today. And note where the 2, 1, 2 stochastics have been regularly peaking. At this point in the flow of RSI lines and values, a drop is usually accompanied by a move of the RSI back below line AB then up to the intersection of AB and XY. The failure to surmount that intersection is what does it. And don't forget AB-XZ is still lingering out there. I've been reading alot of technical types on the thread today and I think they are going to be caught on their heels. Tomorrow is likely to be a seemingly tame day on the Dow. Down maybe 50 or 60. It's what lies underneath that matters. Doug R