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The 60-minute trend is up according to the force index indicator. The nasdaq emini is moving above the upward channel that has contained prices since the beginning of February. Prices are testing the January high.  In this situation I am not a buyer.

BMO Capital analyst Tim Long this morning upped his rating on Research In Motion (RIMM) to Outperform from Market Perform, lifting his price target on the shares to $88, from $70. The stock closed Friday at $69.50. Long expects a "meaningful beat and raise" when the company reports results for the fiscal fourth quarter ended February; the numbers are scheduled to be announced . He upped his EPS estimate for the quarter to $1.32, from $1.28; for FY 2011 he goes to $5.40, from $5.17

In my charts, I used three indicators.

The force Index indicator. I used the force index indicator, which is an indicator measuring the force of bulls during uptrends and the force of bears in downtrends. It takes into account price and volume. I applied a 13-day exponential moving average (EMA) of the force index to help track the trend. When the trend is positive, the color is blue; when the trend is negative, the color is red.

The emini Dow is moving within an upward channel. The force index indicator is positive in the 60 minute time frame. Slight negative divergence of the %b indicator, which has left the oversold level.