Thursday, July 29, 2010

Market Comments 29/7/2010

Today, the puppy was sleeping.

The XAO was down -0.13%.

The chart above shows a clear upsloping wedge - which is bearish. RSI is knocking on 60 - a level which denotes overbought in a bear market (but nothing of significance in a bull market). So if we get a drop here, that would confirm the bear market diagnosis.

Nothing much else to note today.

We wait on the next couple of days.

Cheers
Red


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