May 22 2007, 09:48 PM
Maybe some profit taking before Memorial day and then push it back up on low volume late Friday?
So how about some selling after the holiday on Tuesday, then new highs on the back of the bears?
So Sentimentrader.com bears jumped big tonight. That could support a reversal.
I'll be watching the $VIX. It's right up to the top BB. If it doesn't reverse tomorrow...forgetaboudit.
Notice that the last 3 times we had a decline, the CCI reversed back up at the zero level.
IF tomorrow manages to close up, I expect weakness after the holiday kinda like the action following May 10th.
And then the "six days of strength" may influence early June.
It's all about tomorrow.
Isn't there a broken uptrendline in there somewhere?
(PS: Ain't it spooky? May 10th, the "Last Quarter" moon was the low, Yesterday's "First Quarter" moon was the high. It doesn't always work that way, of course. Trading should be so easy.)
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=6&dy=0&i=p24985122300&a=50125629&r=8736.png
Edited by Rogerdodger, 24 May 2007 - 11:07 PM.
