• Wednesday, March 30, 2011

A quick intraday update, considering the charts are revealing some divergences about the market in here. Apologies if I am simply applying the KISS method of TA for these charts. However, I do believe Einstein once said, "Everything should be made as simple as possible, but not simpler". Here's hoping to finding that balance. 
  • The Transports and the Russell are rubbing up against their February highs today.

  • The Nasdaq, SPX and Dow are lagging. However, the SPX's RSI is below where I would expect a retracement. 

  • The US Dollar is directly below resistance. However, the RSI has broken through its negative divergence.

  • The MSCI World Index ex/US appears to be rolling over. 

  • The DJWorld Index w/US is below its February highs. However, the RSI is hitting resistance today. 

  • Gold can't seem to find its balance and has been all over the place over the past month. That's information in of itself.