Very typical consolidation pattern breaking down. The real break of the rally has happened about 2 weeks ago. Notice when summations turned down.
Moving averages are containing every up move. Very solid grip on the market.
Couple simple charts. NYMO, Summations and DOW
Started by
ogm
, Feb 12 2009 11:26 AM
2 replies to this topic
#1
ogm
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Posted 12 February 2009 - 11:26 AM
Spx is the same, broke the trendline off the low.
Very typical consolidation pattern breaking down. The real break of the rally has happened about 2 weeks ago. Notice when summations turned down.
Moving averages are containing every up move. Very solid grip on the market.
Very typical consolidation pattern breaking down. The real break of the rally has happened about 2 weeks ago. Notice when summations turned down.
Moving averages are containing every up move. Very solid grip on the market.
#2
denleo
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- Chartist
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Posted 12 February 2009 - 12:04 PM
OGM, this is exactly what I thought this morning. But it will look a lot more bullish after afternoon rally.
Denleo
#3
tommyt
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Posted 12 February 2009 - 02:16 PM
OGM, this is exactly what I thought this morning. But it will look a lot more bullish after afternoon rally.
Denleo
Denleo, I agree...it looks like the mkt is waiting for the stimulus thing and a pop, then possible tank.
