actio-et-reactio
Balance is but a brief transition between extremes.
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Friday, June 06, 2003
Thursday thoughts
My daily chart highlights the 'overbot' RSI in green, not red, not yellow.
RSI is not a 'pure' oscillator. It forms channels, which I've shown before, and can stay over/under BOT for extended periods. There is little to say it won't stay overbot 'this time', at least for a few days.
Mind you, a pullback isn't out of the question. There is a new lower trendline (lime green now at 930). I've favored a complex topping, but even this scenario may not result in an avalanche correction, esp. with layers of support now having been constructed. It may become simply a traders market, at least through the summer.
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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