Moving ever so closer

April 26, 2006 · Print This Article

Not much to say tonight. I am still looking for a decent decline to move a few of the major indices back into oversold territory. With DIA moving higher and nearing overbought and the QQQQ moving closer to oversold we could see QQQQ and possibly SPY reach oversold tomorrow. If this occurs a high-odds setup could be in the making. As I have stated before patience, patience patience. I am not in a hurry, the market isn’t going anywhere, but if I jump in without a substantial reason to trade my losses could. Until tomorrow.

RSI Wilder (5) for April 26, 2006