Post Expiration Blues
April 25, 2006 · Print This Article
The price action during post expiration week has been weak to say the least. While declines in the major market indices have been limited, there seems to be a few fundamental and technical indicators that are flashing bearish signals for the short-term. Given these signals, I would not be surpised to see DIA, QQQQ, and SPY move into oversold territory. The bulls are certainly not going to give up without a fight, but it seems, at least for the short-term, they are somewhat tentative. If all three happen to move into oversold territory I think we could be in store for another high-odds trading opportunity. The next few days should be interesting to say the least.
Daily Articles of Interest
RSI Wilder (5) for April 25, 2006
- DIA – 55.6 (neutral)
- SPY – 48.6 (neutral)
- QQQQ – 37.6 (neutral)
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