- Price yet to make a clean breakout from the channel.
- Price is testing 20 Week SMA. Bulls need a close above this line for confirming a breakout.
- Daily chart shows overbought stochastic But bears need price to fall below 50 day SMA for a meaningful correction. Bulls are safe above 50 day SMA.
I love taking pot shots at "A Dash" since they are so "well studied" and completely miss the mark as classic academics.
ReplyDeleteTheir statement:
Inflation -- both wholesale and consumer --remains benign. Steven Hansen covers the PPI report. Doug Short looks at each CPI component with the energy threat in the background.
Is hilarious, any human with a pulse who has walked into a store lately, traveled, or paid a utility bill, obviously knows that inflation is quite high, at least lower double digits.
Nevertheless, this chart still speaks volumes
http://oahutrading.blogspot.com/2012/06/inflation-is-benign-except-for-things.html