Wednesday, April 15, 2009

BreakOut Likely Coming





2 comments:

Blue said...

870 is def. in the works, everyone knows it. I like this idea though:
http://blog.afraidtotrade.com/what-pattern-exactly-is-the-sp500-forming/

Stewie said...

yes blue. this pattern is def. a possibility. right now we need top have an open mind and accept that anything can happen. If we start to churn around this level for a while longer without the bulls getting aggressive than then could easily rollover into a rounded top in which case it'll take a few more days to complete. But right now, i am on my toes and ready to react to whatever these do over the next few days. EVERYONE has opinion about direction now, the most popular one right now, i'll just see how these charts play out over the enxt few sessions. BUt you have admit, the manipulation in this market is hard to ignore. Take a look at what happened in the final 30 min. today. We looked like were about to rollover on most indexes and out of nowhere we rallied like a bat out of hell. that's why you must be on your toes and truly EXPECT and be readdy for ANYTHING!!

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