Edited by dTraderB, 08 November 2011 - 02:47 PM.
BERLUSCONI/PAPANDREOU resignations: catalyst for leg up
Started by
dTraderB
, Nov 08 2011 02:45 PM
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#1
Posted 08 November 2011 - 02:45 PM
With both of them gone within 24 hours, this clears the way for a relief rally with an initial target of 1310/1320
I am extremely cautious and ready to bail ad ask questions later if this market cannot move up from here..
The 60-min and 4-hour momentum indicator have flattened - is this a pause and then continued rally, or a stall and then decline?
My simple momentm rule:
Markets that do not rally on good news are ready to fall; conversely, markets that do not drop on bad news are ready to rise.
and the basic rule: if it can't go up, then it will go down; if it can't go down, then it will go up.
We got to go up from here or else... goes down. DUH.
Watch that VIX and NYMO