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.

2 comments:

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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