RE:SP....blaggers wrote: .....back inside the upper Bollinger Band (39 cents).
MACD's about to make a Golden Cross (meant to be bullish but IMO it's not a reliable indicator).
RSI just toying with the overbought line (70).
On the weekly chart the MACD continues with a bullish pattern.
Interestingly - the last 3 times the SP has got through the 50 MA, the following weeks candle has been an Inverted Hammer (opens and closes at about the same price after having run up - looks like an upside down capital T). A good Firday tomorrow could end that cycle.....fingers crossed.
Cheers,
Blaggers.
The fact is that a T.A with CRE is useless.....because the up going of CRE is related to, PERMITS, BIG MONEY from a BIG name. We just had proof ....even when we expect a upset because government spending could be around the corner...CRE don't move
November 19....we had 0.63
Febuary 20.......we had 0.55
June 20............we had 0.45
and now ..........we are looking at a 0.42 possible new LOWER high...
This is a down pattern even with all the good weeling we have we have to fce it ......PERMITS, MONEY, MINE, PRODUCTION.......we are facing this in reality.