sm chart as of 08 aug 2013
(click on the chart to enlarge)
remarks:
1. sm posted its 4th straight red candle in a row for the week ... breaching its 838 support ... and closing this thursdsy lower @826.50 ...
2. the macd histogram continues to go down .. with the macd now below the 0 horizontal ... the sts made an about face and is again lower ...
3. i guess sm is just saying it has not yet found what it is looking for at present: its bottom ...
4. next supports: 820 ... then the 800 psych support
5. im still a waiter on the sidelines ... taking my sweet sweet time ;) ...
for an explanation of the indicators ... click: here
for reference .. you may also want to read: my trading rules
