11 replies to this topic

[relax]

Maybe we get a retest of the trend line from above

just like the dow did when it dropped to 12.000 back in march

$SSEC closed above 4000 after breaking above 3050 15 yr trend line resistance as alerted during March 2007.

Also, noted "1000" price action performance after breaking out during 2006 mid year reversal, now, market participants are anticipating 1000 point action after each breakout.

Even though $SSEC closed above 4000, being cautious is a good thing with an overshoot consideration for ST, but as we can see, the breakout from the LT trendline is bullish.

http://www.stockcharts.com/c-sc/sc?s=$SSEC&p=M&st=1991-01-07&i=p41832746448&a=103246091&r=37.png

[Trend-Signals]

Maybe we get a retest of the trend line from above

just like the dow did when it dropped to 12.000 back in march

$SSEC closed above 4000 after breaking above 3050 15 yr trend line resistance as alerted during March 2007.

Also, noted "1000" price action performance after breaking out during 2006 mid year reversal, now, market participants are anticipating 1000 point action after each breakout.

Even though $SSEC closed above 4000, being cautious is a good thing with an overshoot consideration for ST, but as we can see, the breakout from the LT trendline is bullish.

http://www.stockcharts.com/c-sc/sc?s=$SSEC&p=M&st=1991-01-07&i=p41832746448&a=103246091&r=37.png

Yes, that is the "Breakout Retest" which I commented during the "March 2007" bottom. Also, the formation of the monthly $SSEC is similar as the weekly formation of U.S. markets which I commented during the Jun-Jul 2006 as "Price Channel".

$SSEC traded below 4000, then closed at 4,021.678

As commented yesterday, my ST setup signals a sell.

Good trading