Charting Only., page-262

Well it’s the “Pretzels v’s the Parasites” over on the “fundies” threads. Way to sophisticated.

 Time for a pretty picture to get their tongues wagging.

Its been said for a while now that Company news was the only thing to turn around the sinking SP and the news came. Check out the RSI, it went from oversold to overbrought quicker than Usain Bolt, MACD did the same. 
Problem was, in my opinion it rose to fast therefore a healthy pullback back into the bollie bands was needed. .02 was a great place to take profits for the short termers. (so, not sure if I’m a pretzel or parasite?) My decision was based on RSI being way over bought and SP was out of Bollies. Risky i know, but trying to stay disciplined this year. Trying to buy back at .018 but may miss out.
I repeat again that these indicators are very basic and Kates and Mirren will be choking on their Butternut Snaps (who remembers them) but may assist those vaguely interested. 
To call the chart completely bullish i’d love to see the MA (little circle) cross as check what the SP has done in the past when that has happened.

Finally the chart has some life in it. But IMU has more.

Cheers

Click to enlarge.