Tuesday, October 13, 2009

This week is it.

It stopped at an upper trendline for the bear market. The above chart is a weekly chart, and I can see the market closing above the upper trend on a daily basis but it will pull back under for the week. The market will collapse and the weekly stochs will break their trendline from the March lows. We should also see a volume spike.
Wow, still no cross when we zoom in on the BPSPX:CPC.
The MA's technically have not crossed on the CPCI:CPCE...they are exactly equal right now!

Wow, we opened on support...shot up during the morning...then traced below in the afternoon...and closed right on it.