The latest glance of the charts is showing a very strong uptrend that I have not seen in a long while. The Energy sector is rallying to catch up with other Industry.
I am revising my SP500 target from 1525 to 1550, and my RD target from $76 to $78. This could be the best swing trade for RD this year. Last year RD opened at $73 and close the the 2012 with $69. This year we maybe able to get 20% or more return on swing trade. Folks, improve your chart skills and take advantage of this years swing. For those that are out of RD will miss this $78.00 run. Best wishes to all. Our board are better traders than your broker. You heard it here before. THE CHARTS DON'T LIE.
Went back into all cash today (except for my long term gold holdings). RDSa has a nasty habit of heading south on earnings day so decided to play the trend and sell. It was a good run so banked the profits just in case there is a downturn tomorrow. GLTA
Charts are showing a topping out on this run. 70+ RSI, 95+% Fast Sto, and chasing bollinger. Pulling out of equities after the close today. Don't believe there is much left on the table. Positioning for the 25% correction that could occur this spring. This is the way I am reading it. My opinion ONLY based on the buzz words I'm hearing. Good luck to all of you.
All these indicators are irrelevant when the market rise up into a trending mode. These indicator could stay overbought for months and pullback to 38 and bounce to resume the rally. The rally is still on going. There maybe A COUNTER TREND coming, but overall the market bullish. Don't listen to CNBC, they pump & dump to create swing for their own motive.