17 replies to this topic

[SemiBizz]

BOOYAH

SHOW ME DA BULL !!


http://bigcharts.mar...&mocktick=1.GIF

Edited by SemiBizz, 06 August 2007 - 06:42 PM.

[arbman]

[SemiBizz]

That is not the way I read it ... and July 26 th would be the turning point. But that's not what is happening here there is one flaw in your logic... we made a lower low on higher volume today in the local zone and that has to be addressed before any consolidation is complete...

[arbman]

I completely agree with you that today's low has to be tested, but if tomorrow's stick comes with a high volume and fails to take the lows in any way, the consolidation should be probably complete. If so, Wed should gap up and run. I am pretty sure the volume will be high tomorrow, so it all depends on whether the lows will be tested early in the morning and blast higher or simply sell off toward the lows after the news... So far, Aug 3rd sell off did not damage the support considerably, but it did serve to wash out the weak longs. Tomorrow must take the lows on volume to continue the downtrend... All I am saying here is the trend is not necessarily bearish from here... - kisa

[SemiBizz]

And I heartily disagree, because that DJIA low of 13041 is going to be tested... that is bearish...

[arbman]

When?

[SemiBizz]

I'll stick my neck out again and say that 13041 will be tested before 14000 is tested.. how's that? Probably by mid-week.

[arbman]

I would think any lower test will come later this week or early next week. Tomorrow will tell...