$RIMM is back down near the edge of the kumo support.
I am betting that is going down again.
Vested.
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$TLT . Showing bearish signs.
Feb 10, ’12 1:12 PM
Perhaps this is one of the confirmation signals that we have been waiting for.
For the last 1 month, the market has rallied. Despite the challenges in Eurozone, it continues to edge up further. The saving grace is the movement has become smaller.
$TLT has rallied back in August last year and consolidated at the current range since October.
At this moment, it looks like it is going to fall off the cliff soon.
The price has just dipped below the kumo support.
Leading kumo has twisted and is showing bearish confirmation.
We can also see that the Tenkan sen and Kijun sen has crossed and giving another bearish confirmation.
All we need is for the Eurozone issue to trigger a ‘mad rush’ into USD and that is sufficient to make /ES lower.
$GS . ‘W’ face resistance
Feb 2, ’12 11:59 AM
It has been challenging to get some wins off short position with this market that still refuse to retrace.
Here’s another setup that I am looking to short.
We can see from the chart that :
1. A ‘W’ is forming on $GS . However, it is facing resistance from the Chikou Span way back from November 2011.
2. At this moment, this is not a good time to establish a long position as it has run up by so much. We can see from the RSI that it is reaching ‘overbought’ situation and the Force Index has shown that it is in bullish territories for quite some time.
Next, we can see from the Weekly chart that $GS is still trading below the kumo; a sign that it is still bearish.
We can also see that the Chikou Span is about to hit the price level ‘forming the W’ follow by the Tenkan sen and Kijun sen on the Weekly Chart.
I will look for a short vertical call spread for $GS and hopefully, it goes as planned.
