Quite a reversal today, but don't expect the bull to rollover and die just yet...
Posted 28 April 2016 - 06:22 PM
Quite a reversal today, but don't expect the bull to rollover and die just yet...
Posted 28 April 2016 - 08:36 PM
I had a sharp 17 day low today, cant say that is all of it. It has hit a one day shakeout
almost every time for several cycles. That may be all of it but the next high is close,
then correction for a couple weeks and up again. I don't think it is a deep correction.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
Posted 28 April 2016 - 08:55 PM
Posted 28 April 2016 - 09:23 PM
Sell in the beginning of May and....is gonna work to some unknown degree. A slippery slope is coming shortly.
Posted 29 April 2016 - 06:12 AM
still too overbought - lack of retracements last couple months
Should be at least 1-2% lower within few days. That could be it, or it may get worse...
Youtube JBCycles
Posted 29 April 2016 - 10:13 AM
It seems within a hair of do or die time, as far as the RSI and stochastics support trend lines on multiple indexes, either it breaks now with fire raining from the sky or one last trip to the resistance lines, IMO.
Posted 29 April 2016 - 10:18 AM
Nasdaq Trend Line Break...
Posted 29 April 2016 - 10:59 AM
And now we have new low at 4740, it will try to consolidate the broken TL at 4760
Posted 29 April 2016 - 03:19 PM
So lower trend line was consolidated, Nasdaq closed back inside trading range of the reference candle from 3/18... that might be good enough for now. The key here is 4804... it if can climb back over that - there is still upside potential for this bounce. We got 40 point bounce off the low today... We'll see how it all settles out.