The market was down a few points today after initial euphoria over the Rudd "assassination". The XAO finished today at 4504 - so we're still at the 4500 area.
The technical picture deteriorated a little today. The RSI broke below its up-trend line and is hovering around 50 (the mid-line). W%R did likewise.
The MACD remains just above the Zero line.
So - at this stage - there's no clear "sell" signal. Look for:
- A break by the MACD below Zero
- A break by the XAO below 4500 for two days.
- The RSI below 50.
- W%R below its mid-line.
Cheers
Red
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