Thursday, May 14, 2009

Today's Bounce

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


Anonymous said...

Hi great charts!

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



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?


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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