Tuesday, December 15, 2009

No Breakout Yet

It looked like there might be a breakout attempt early this morning, but it fizzled out. Now we are only 1 to 3 days away from a cycle high, and 4 days away from the winter solstice on December 21. The longer we go with no breakout, the greater the probability of a breakdown.

The above chart shows that both the MACD and the RSI of the Qs have not broken out above their trendlines. This is a must, in my opinion, to validate any breakout.

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