Monday, March 30, 2009

Nice pull back...

Nice pullback today with an ascending wedge that formed near end of day. The trouble with small EOD formations is that if there is some sort of news event those get blown out of the water. Barring anymore government intervention I expect we might gap up and potentially hit the 79.5-80 region before finishing this move down to about 77.4.

Stochs have rolled over on the daily and the MACD is about to roll over.


Anonymous said...

Superb word. Thanks.
As in the FTSE, the dax one would expect a corrective movement. The high last week and the opening of today indicate that we have one more short-term top. Island is a strong pattern. Two short-term resistance 4060 and 4155. Two values of hope for the bulls 3936 - 3800, and a projection for a classic bear market 3165.

Big trades for all.
Daily -
Hourly -