Wednesday, April 1, 2009

Just looking for wedge breaks tomorrow...

Today we gapped down into the red wedge from yesterday and then broke up through the top trendline as I feared. Tonight we are keeping it very simple. Just looking for breaks of the red and orange bearish rising wedges. Typically through out the bear market we have been rallying on jobless claims...kinda weird but we have. Let's see if anything has changed for tomorrow...perhaps bad numbers in a bull market and people may start behaving correctly :)

Target is about 78.9 which is the bottom of the triangle trendline.