Wednesday, August 12, 2009

XHB

XHB has had a near vertical move the past 2 weeks. It has since slowed and gapped down yesterday, breaking it's rocket ship trajectory.
Both RSI and STOCH are overbought and rolling over. The only caveat to getting short here is the support at 14, this area my provide a bounce, but a break of this level then 13 is in the cards.
Here is a longer-term chart: