The trend is decidedly still bearish. We are nearing the top of the channel, which always means two things...its a GREAT TIME to short and it could be time for the BREAK OUT to the upside. Things are never easy. Daily Stochs are overbought, we could tag the top line tomorrow and then turn down. Though at this point with Fedex and TI cutting outlook we should open decidedly down. Looks like we are entering "warnings" season.
The light green lines are the bull market trends. The blue lines are the trend channel for the bear. The dark green line is the bearish rising wedge that formed today.
The little grey boxes on the 15th are little grey boxes :-P Actually they are just there to remind me when the Bradley turn date is. If we stay in the wedge till then, its possible we turn down on that date and the market crashes down to new lows in the subsequent weeks. Or we could break the wedge sooner and hit a low by the 15th and turn higher in subsequent weeks. This is only if the Bradley date is meaningful to any of you out there.
0 comments:
Post a Comment