- Wednesday, March 30, 2011
A quick intraday update, considering the charts are revealing some divergences about the market in here. Apologies if I am simply applying the KISS method of TA for these charts. However, I do believe Einstein once said, “Everything should be made as simple as possible, but not simpler”. Here’s hoping to finding that balance.
- The Transports and the Russell are rubbing up against their February highs today.
- The Nasdaq, SPX and Dow are lagging. However, the SPX’s RSI is below where I would expect a retracement.
- The US Dollar is directly below resistance. However, the RSI has broken through its negative divergence.
- The MSCI World Index ex/US appears to be rolling over.
- The DJWorld Index w/US is below its February highs. However, the RSI is hitting resistance today.
- Gold can’t seem to find its balance and has been all over the place over the past month. That’s information in of itself.