Quote from wjk:
I'm taking a shot on the short side over the weekend as well.
My reasons.
In the cubes, there was a gap up April 2. 212 million shares traded that day. My modified RSI indicator hit 75. The next day the cubes closed only a few pennies higher then the previous day high and my RSI reached 81.
2 days later the top of the gap from the 2nd was tested. Today we gapped up, closed on the high with 131 million shares traded. My RSI touched 75. Higher price, lower RSI = divergence + below average volume and a close on the high. I think that's a reasonable shot, though risky in this environment of buying any glimmer of hope. Not looking for a giant move down, just enough to consider getting long again. Risk is limited to todays high plus a few.
Maybe just a fantasy. We'll see Mon. Happy Easter to everyone.