So far so good. Looking like Jan 21st white candle set-up.

Last night I mentioned the possibility of today having a nice white candle like Jan 21st.
LINK
If Stockcharts will allow the bottom chart to update, it may be fun to compare the two as the day goes on.
Jan 20 & 21st, and yesterday and today look like twins so far.
Watch for any downtrend lines to be taken out later on and also watch for this morning's 30 minute high to be taken out.
Watch for the SPX:VIX ratio to be heading up.
TICK needs to remain mostly positive.

http://stockcharts.c...03534&r=136.png

Edited by Rogerdodger, 11 February 2009 - 10:44 AM.

intra day stuff i look at says bottom right around 11:00 am and rally into the afternoon so that fits with your pattern as well..

i think today will be a consolidation day which usually happens if you notice whenever he have days prior that are extreme on breath to the d o ! w e n d s i i s d p e or u

Edited by iron cross, 11 February 2009 - 10:57 AM.

Of course it's never the "same" but often rhymes.
Notice the TICK chart also looks similar as the 5 minute 89ma is trying to turn up and the 20ma has surged up.
Beware that Jan 22nd gapped down after the 21st closed on the highs of the day as the shorts were burned.
http://stockcharts.com/c-sc/sc?s=$TICK&p=5&yr=0&mn=1&dy=10&i=p63234629640&a=111513787&r=821.png

Jan 21st was the end of a bear run, Feb 10 was the start of a new bear run after making a double top, there is no great enthusiasm to buy this market today.

Jan 21st was the end of a bear run, Feb 10 was the start of a new bear run after making a double top, there is no great enthusiasm to buy this market today.

That is showing up in the TICK.

The TICK IS SICK.

Jan 21st was the end of a bear run, Feb 10 was the start of a new bear run after making a double top, there is no great enthusiasm to buy this market today.

That is showing up in the TICK.

The TICK IS SICK.

Not sure if you saw me post this before if not it is from www.gannglobal.com, their research shows that over the past 200 years all of the bear markets of a magnitude comparable to the current one went down from Jan. to April. The red dots on the chart show where the others bottomed in April or March in one case, of those other years. So if this market goes up now it will be the statistical freak. (pasted from Teaparty's post) This chart is extremely valuable research which agrees with what I am now seeing on my blog.