tecnicals great
Quick technical analysis:
Long-term: The 50 and 200 day moving averages are trending upwards, which in my
definition means that SXL is in a bull market. A pattern of higher highs and
higher lows confirms this longer term trend. We have also made the higher highs
on outstanding volume. The pullbacks have been on low volume. This means that
the overhead resistance is weak and that when volume returns we can make higher
highs again. These are very bullish conditions. Don't lose sight of that.
Short term: We have worked off the extremely overbought position reflected in
the RSI and stochastic indicators. Up she goes.