KCPO:- The Bull Gathers Strength -5/23/2011

The market continues to move up and it is now above the upper Bollinger Band which usually mean the bull is confirmed back in action. Both the Stochastic and MACD continue to move upward. The MACD is getting nearer to cross above its zero signal line which is another more confirming bullish setup. The current move could be a sizable one as there is a bullish divergence setup which I mentioned last week. 

But I would like to see the ADX rises to compliment the current move to confirm a stronger momentum.

Place stop at 3335.

The weekly chart has begun to show some subtle bullishness as price managed to close back above the lower Bollinger Band , complimenting by a positive Stochastic. But the Stochastic is still below the 20's signal line. If the Stochastic manages to cross up above the 20's, then it would be a more comfortable signal.  Meanwhile the MACD remains negative, but it has started to flatten out and may turn  up soon. The ADX has begun to fall again when it was flat the last few week, this can taken as a counter-trend movement has begun.