Monday, January 26, 2009

Bear Flags Closing Updates

Lots of these flags i posted yesterday look to have tested the upper resistance levels and now look more and more ripe to break down soon. I would not rule out another 'fake out' move higher tho. anything is possible in this market, even a complete failure of the flag patterns so always be ready to react and never get married to one trade and stubbornly hold into something that you feel isn't right.


Anonymous said...

Hey Stewie,

Do you see a falling wedge on SKF on the 60min and daily chart? Do you think this could be setting up for a big jump up on FOMC tomorrow?

Stewie said...

anon: all indexes printing NR7s and they are ready to move in tmrw's session. check out my latest post for the SKF analysis.

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