Redback's Australian Stock Market Report

A daily report on the Australian Stock market and selected Australian stocks.

Monday, February 22, 2010

Strong day yesterday.

RSI2 showing divergence from price.

Slow Stochastic is overbought and appears to be rolling over.

This looks like a short term sell signal.

I'll wait for a cross on the MACD on the one-hour chart.

Cheers

Red

redbacka: Brisbane, Queensland, Australia; Redback has had a varied career in Education, Academia and Business. He has a bachelor's degree with a double major in English and Philosophy. Post Graduate qualifications in Administration and a Master of Science degree. Besides looking after his granddaughters two/three days a week, he devotes himself full time to stock market analysis.

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