Preferreds set to move lower

PFF - Preferred stocks have reached a critical maximum for now and with today's price action we may see an additional confirmation to RSI an MACD. RSI has already dipped for a sell signal and MACD is showing a strong divergence with the price. Volume activity is showing as well that buying power is slowing down. If we have a bullish engulfing candle today as a close that will be a strong confirmation.