Friday, June 20, 2008

T2108 - Oversold Indicator

The vaunted Worden TeleChart T2108 indicator is beginning to approach levels that are more associated with bottoms than tops. I'd be careful with shorts here and start making your long watch lists. We may not bounce today, tomorrow or even next week but it is important to be ready for when we do.


Stewie said...

that's so funny that you pulled up this indicator. i was just thinking about this indicator and sensing that we could be close to a signal. we'll see.

Stewie said...

hey J. make sure to keep us updated on the developments of this indicator. cheers mate!

Johnson's Trading Blog said...

Stewie - We're at 15.00 as of the close today. This is below the levels we hit in Jan and Mar of this year and just above the Nov 07 lows (hit about 13). The Aug 07 lows hit 7.7.