RSXJ - Longterm trend breaking down Short from $37.80RSXJ is rolling over after a huge upward move. It has broken down very longterm upward trend & recent support label. It also has Negative moneyflow divergence. We think it will decline further.
For ideal entry we would like it to re-test broken support.
* Trade Criteria *
Date first found- March 9, 2017
Pattern/Why- Trend/support breakdown
Entry Target Criteria- Break of $37.80
Exit Target Criteria- Momentum
Stop Loss Criteria- $40.73
Please check back for Trade updates. (Note: Trade update is little delayed here.)
RSXJ
RSX hit the ceiling and is ReversingSell Signal via Bollinger Bands, closing in the bottom channel. (Sell Signal). KST and Coppock are reversing and are pointing down. CMF is flowing out.
Russia Big/Small caps ratioRatio rejected again at 2,618 fib, printing an ominous weekly candle so far.
As M. Armstrong reports, "more than 64billion$ of investing capital left the country during the first quarter of the year. Credit war is on, as Russia cancels bond sales for 7th time in in row, since couldn't find any buyers in the international markets, pressing interest rates to soar".
armstrongeconomics.com
armstrongeconomics.com
Ratio says it pays to be short large caps and long small caps, as RSXJ looks like finding a short term bottom around 28.5$ area.
Cheers
P
