Trade On Indicators

Small market movements are generating buy/sell signals. Stay out. Unless you're a daytrader, be a non-trader. (1 chart)

U.F.O.

[quote name='U.F.O.' date='Mar 22 2008, 11:46 PM' post='361407']
Small market movements are generating buy/sell signals. Stay out. Unless you're a daytrader, be a non-trader. (1 chart)

U.F.O.


I think your analysis is brilliant. Until this nasty down move is completed, I believe technical tools will fail.

Bullet proof bottom right there, actually it was 3 and 8 days ago. Go one level up from the noise and work on the weekly chart. They can bring out any news, it will be bought. It's working on the 1340-45 resistance and will jump an air gap to 1375-80, pull back to hold 1340 and move on to 1418. Possible further to 1475-1480, taking a month. The early april lows will be holding the 1340 area maybe poking a stick into 1320 one time.

Edited by AChartist, 23 March 2008 - 07:38 AM.

My opinion is through breadth and relative strength viewing the stock charts themselves, it's going to be a scorch. Got to be 200% long, dont get in the way. That air gap from 1345 to 1375 is going to turn some heads, I might be too conservative in the range and targets.