Thursday, May 14, 2009

Today's Bounce



Resembled more a bearish pattern than the resumption of the bull. Expecting further deterioration.

4 comments:

Anonymous said...

Hi great charts!

What are the pattern's name in this first graph please?

Thanks.

Peter.

Stewie said...

these are known as continuation patterns: look up: BULL FLAGS, PENNANT, FALLING WEDGE, RISING WEDGE, Bear Flags.

All great patterns and one of mmy favs. learn these, you'll do yourself a favor.

Shawn said...

Stewie, I have a great concern for this supposedly IT top. VIX just broke lower and hitting the support trend line again. I posted this chart yesterday on previous topic.

Are you concerned?

Thanks
Sean

Stewie said...

shawny, i am not concerned because i am not short and you make a damn good point. what's up with the VIX?? drifting lower everyday.

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