By February 11, the RS had surpassed major resistance at line i and the OBV had also broken through the resistance at line j.
The on-balance volume (OBV) broke through seven month resistance, line c, in January and has just overcome the resistance (line b) that goes back to March 2012.
This is very close to the trend line resistance (line a) from the 2010 and 2011 highs.
The trend line resistance (line a) is now at 8, 870, and the all-time high from October 2007 is at 10, 387.
The daily chart of the 10 Year T-Note Yield shows that yields broke through the trend line resistance (line b) and the 2.00% level on Wednesday.
If the RS line can surpass the resistance (line c), that will suggest consumer staples can continue to be a market-leading sector.
The RS line surged through weekly resistance (line g) at the end of July, and made a new high just a week ago.
For more than a year, the OBV had been locked in a trading range that was resolved in May 1935 (line 1) when resistance at line b was overcome.
The daily OBV gave a buy signal on August 20 (line 1) when it overcame resistance (line b).
The RS line needs to move through the resistance at line c to signal that it is a market leader.
The relative performance completed its bottom formation (line d) in September, when resistance (line c) was overcome.
The daily relative performance appears to have formed a bottom (line c) and a move through resistance at line b, will confirm it.
The weekly OBV is acting stronger than prices, line g, and could break out above resistance at line f this week.
The OBV was much weaker than prices in October as it was well below its prior highs, line d, and just rallied back to resistance at line e.
The RS line has completed its bottom formation by moving through resistance at line e.
The uptrend in the OBV (line h) does indicate accumulation, with next resistance at line g.
It shows an uptrend from the 2009 lows (line b), and then a breakout above resistance (line a).
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The RS line has already broken out to the upside, as resistance (line c) has been overcome.
The relative performance or RS line is barely above its WMA and still below the resistance at line g.
The RS line needs to move back above its WMA and the resistance (line d) to confirm that it has bottomed.
The daily RS line is in a tight range, and a move above resistance (line g) would be a good sign.
The RS line has now made new rally highs, which confirmed the breakout above resistance (line c) last October.
The RS analysis formed a positive divergence (line e) at the June lows, which has been confirmed by the move through resistance (line d).
The on-balance volume (OBV) also broke through major resistance, line i, early in the year.
The RS versus the MSCI World Index has already broken though resistance at line g.
The iShares MSCI United Kingdom ( EWU) gapped through resistance at line e, on April 25.
The Dow Jones Chemical Index reveals that it overcame major resistance, line f, in early 2013.
The OBV staged another rally early in 2013 when resistance at line d, was overcome.
The RS analysis confirmed the upside breakout, as its resistance, line f, was also overcome.
The weekly OBV broke through its resistance (line i) several weeks ahead of prices.
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