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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
My company:
tradewithZEN
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zentrader.ca
  • Commodities Index Building Strong Foundation 0 comments
    Aug 30, 2012 7:03 PM

    CRX is taking it's time forming a bottom and it's starting to really look like it's laying a strong foundation of support. That should allow it to bounce off that $790-800 level and springboard higher in the fall. Watch the RSI trendline as it shouldn't break that support and I would really want to see it pierce that 70 level and beyond to display superior relative strength.

    (click to enlarge)

    VIX has completely worked off it's oversold state and it is in a position where the markets could rally. Note has the SPX has basically moved sideways as VIX rose.

    (click to enlarge)

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