Thursday, August 04, 2011

Just a heads up - An indicator we follow technically just shot off a positive reading suggesting a bounce - Avian

I know we generally don’t put out technical analysis but I thought this was interesting enough to highlight.

Avian’s 10 Week Hi-10 Week Lo indicator fired off its extremely oversold reading of -556. As you can see on the below chart, whenever the red line spikes higher, especially above 400, the market is at a tradable low. The indicator does not shed any light on whether this bottom is a major or minor one. But it should provide a tradable bounce.

Notablecalls: Sometimes we have to rely of stuff like this.

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