In Mi April I covered BIDU and said I wanted to get short BIDU when it breaks below the trendline in red, I'd prefer on a close as the trendline is likely to attract the kind of games we saw in the SPY yesterday and this morning, but that' up to individual traders.
Here's the longer term negative action that took place above the trendline with a last minute new high that went very negative. Right now it's in an hourly leading negative divergence, which is strong. Again, I look at this as a longer term play, probably a bit less complicated then ADM.
Here's the STOCH/RSI bear signal.
BIDU will be able to be put in the trend channel a lot quicker then ADM, although they are two entirely different sectors and I like both. I'm pretty comfortable saying we are seeing a definitive change in character in the market.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
No comments:
Post a Comment