The lack of volume coupled with the divergence between the two momentum indicators (ROC still trending down while RSI is trending up) make it hard to believe that the index would have enough power to break the resistance of a sideways trading range dating back to Feb. 13, 2012.
Monday, April 30, 2012
Getting Technical: Weekend Update
The S&P 500 broke a resistance, on strong momentum but on 2% above-average volume only.
The lack of volume coupled with the divergence between the two momentum indicators (ROC still trending down while RSI is trending up) make it hard to believe that the index would have enough power to break the resistance of a sideways trading range dating back to Feb. 13, 2012.
The lack of volume coupled with the divergence between the two momentum indicators (ROC still trending down while RSI is trending up) make it hard to believe that the index would have enough power to break the resistance of a sideways trading range dating back to Feb. 13, 2012.
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