Monday, November 10, 2008

DOW Chart Morphing Into Bear Flag

4 comments:

Anonymous said...

Stewie,

Just wanted to say PERFECT on your trading rules. I wonder how many people have read scanned them and ignored them. Anyone who's been in the markets for a long time (successfully) would consider those rules the holy grail.

-Adam

Anonymous said...

Stewie,

The DOW and SPY charts look the same to me, but you have the DOW breaking lower and the SPY ready to move upward from the reverse H&S patter.

Confused Trader

Stewie said...

hi adam: i agree with you 100% especially the one about never taking big losers. EVER!

Stewie said...

confused trader: don't be confused, the SPY chart id the setup i was watching yesterday but today the charts have morphed into what appears to be bearish looking ones now. Pull up a SPY chart after today's close and you'll see the DOW and SPY look similar.

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