8 Jan 2013

Markets have been sideways since the gap up in the New Year open.

This usually means that we will push higher but there are sentiments from many technical analyst including me that the move so far this New Year is at a disconnect. 

On an intra-day basis, our 60min Stoch. has crossed up and out of oversold resetting itself and gives us a higher chance of pushing up either higher highs or test the highs of Sept 2012.  For us to have a substantial move down the 60min Stoch. MUST have a strong impact to move the daily Stoch. out of its overbought area.  This trend would last days to weeks if our daily Stoch. crosses out of overbought.