This is what I see for next few days.. that bearish looking wedge will get the bears all lathered up. But it will fill gap and head upwards. Sentiment is in fine shape, and on schedule.
Bear trap coming up
Started by
dcengr
, Aug 24 2007 09:44 AM
3 replies to this topic
#1
Posted 24 August 2007 - 09:44 AM
Qui custodiet ipsos custodes?
#2
Posted 24 August 2007 - 09:53 AM
Why does it turn at 145 instead of making a leg-in-leg-out resolution?
#3
Posted 24 August 2007 - 10:13 AM
You could be right...
http://stockcharts.com/c-sc/sc?s=$SPX&p=5&yr=0&mn=0&dy=6&i=p11767976041&a=93322579&r=228.png
Ideally....this is what I'd like to see....
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=6&dy=10&i=p01887485676&a=104926928&r=1921.png
http://stockcharts.com/c-sc/sc?s=$SPX&p=5&yr=0&mn=0&dy=6&i=p11767976041&a=93322579&r=228.png
Ideally....this is what I'd like to see....
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=6&dy=10&i=p01887485676&a=104926928&r=1921.png
#4
Posted 24 August 2007 - 11:14 AM
keeping it simple
at this pt as long as we stay above the 5-day MA we're good to keep working higher. The worst is over, the other shoe already droppped.
the next ST cycle pullback due anytime will give us all clues
if its lame buy it or miss then next run to new highs
that's my tip-o-the-day.
good luck to all
p.s. it's a further final lock once we surpass the 30 and 60 day MAs.
Edited by Vector, 24 August 2007 - 11:15 AM.