Sideways Consolidation

[Mr_Bean]

It looks like we are almost ready for a move upwards. Been moving sideways for a while now, 12 and 26 day ma about to cross, RSI and Sto are trending upwards, indicating Mrf needs to move higher in the short term. I expect it to get to R1.60 any day, and then on to R1.75. Anyone else have anything to comment?

[#2]

I agree. My only concern is that the DOW is showing the exact same signs that prevailed at the time of the privious major crashes. These crashes are mainly preceded by some bad market news (sub prime?)and then emotional selling. One can, within reason, read charts and fundamentals, but one cannot read emotions. The market is still unpredictable with the DOW acting like a Yo-yo.

[#3]

Ah - but don't the charts reflect the emotions in a market???

[Taurus]

Aaah good one, major point the Techies always hammer on about...the technicals knows everything before the time!!

[Mr_Bean]

So Guys, whats the consensus. Are we in agreement that Mrf could potentially move much higher in the short term. As for the Dow, why did it drop 2% the other day?