NASDAQ: Monthly Mo Rising

09/01/2009 9:35 am EST


Thomas Aspray

, Professional Trader & Analyst

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Even though the daily action has been somewhat choppy over the past two weeks, the longer-term analysis remains positive. The RSI3 (Mo) on the NASDAQ moved back above its WMA in April and continue to act strong. After six consecutive higher monthly closes, the RSI3 has still not reached overbought extremes.

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