When break out trades start to fail it is one sign of a change in sentiment in the broader markets, especially if the fails are in a wide array of sectors. Here are the RIO and TBT charts updated.
Silver is up nicely though
Tuesday, February 22, 2011
Failed breakouts spell trouble for the broad market
A couple of updates on charts that I recently suggested may be good trading opportunities. Rio Tinto broke up and out of a base and now has turned back into the base. This would be time to sell Rio for a small loss. Same for TBT, the interest rate fund. Interest rates look set to dip in a flight to quality in US treasuries.(Quality??)
When break out trades start to fail it is one sign of a change in sentiment in the broader markets, especially if the fails are in a wide array of sectors. Here are the RIO and TBT charts updated.
When break out trades start to fail it is one sign of a change in sentiment in the broader markets, especially if the fails are in a wide array of sectors. Here are the RIO and TBT charts updated.
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