Market top and long positions

Hi max
nasdaq gaps are so common that you cant really rely on them as much as normal but it is an island formation .Its a very good example of how an island looks like.

madmaxx wrote: is this reversal island?

is this reversal island?

I'm here to help ,

No particular signal as indicators can remain overbought for prolonged periods but I just noticed the FTSE recorded its highest 14 period RSI reading since '97.


dl.dropbox.com/u/24866576/January%202013...E%20100%20310113.gif

Madmaxx
Good spot mate.

Hi, not posting to much as im busy with life atm, just though i let you know something i've spotted, cant see the top formation on other indices yet but watching,anyway Nasdaq looks like h@s has formed, no new high made like other indices so something to bear in mind, IG insight still showing over 86% their customers are short FTSE so things still pointing for further gains in indices form this perspective, 60min charts showing divergence on DOW but i'm not sure if its strong enough to reverse long time up trend on dialy, i would like to see divergence on the daily chart too,