tag:blogger.com,1999:blog-1258979445050968882.post3462242325442497444..comments2023-11-26T06:55:42.401-05:00Comments on [ The Financial Ninja ]: Equities: Bear Wedge, Overbought, Looking WeakBen Bittrolffhttp://www.blogger.com/profile/12465978905157927856noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1258979445050968882.post-62208847070297755162008-08-18T15:56:00.000-04:002008-08-18T15:56:00.000-04:00Ben,It looks like it's time to revisit the overbou...Ben,<BR/><BR/>It looks like it's time to revisit the overbought KRX. A number of regional banks are on <A HREF="http://www.moneyandmarkets.com/newsletter/103/StrongestandWeakestBanksandThrifts.pdf" REL="nofollow">this list</A> (PDF). KRE was recently in overbought territory and the up momentum of the last month has been fading. I'm short at the 200 EMA (33.80) and looking for weakness to and through the 50 EMA.<BR/><BR/>Thanks again for all the fresh ideas,<BR/>-Mike JAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1258979445050968882.post-71223200053011090582008-08-18T14:52:00.000-04:002008-08-18T14:52:00.000-04:00Do you expect a bounce at the lower limit of the w...Do you expect a bounce at the lower limit of the wedge resulting in the SPX going to 1320, or is the end of bear wedge and it plummets from here?ARAKhttps://www.blogger.com/profile/12126260445601610687noreply@blogger.comtag:blogger.com,1999:blog-1258979445050968882.post-51595205224416107952008-08-18T10:35:00.000-04:002008-08-18T10:35:00.000-04:00I read my first ever technicals book over the week...I read my first ever technicals book over the weekend, and now I actually understand some of what you are saying with this chart. Fascinating.<BR/><BR/>Still, I think I'll follow your handholding for a long time yet before I start committing any money to my own charts.<BR/><BR/>NickAnonymousnoreply@blogger.com